Pax Gold Price Prediction 2024: Can PAXG Stay Linked to Gold?

Key Takeaways

• Pax Gold’s PAXG rose on the wake of the most recent geopolitical tensions.
• Both the gold and PAXG hit new all-time high recently.
• One price prediction says it may reach $6,132.97 next year.

As geopolitical tensions arose over the last few days, due to Iran’s drone attack to Israel, the gold price increased and also Pax Gold (PAXG) reached a new high.

With a market capitalization exceeding $432.8 million, PAXG proudly holds the title of the world’s second-largest tokenized gold coin. Topping the charts is tether gold (XAUT), boasting a market capitalization of $581.9 million. Despite PAXG’s weekend rally, this enthusiasm didn’t extend to XAUT or other gold tokens.

Pax Gold did not immediately respond to a request for comment.

But what is Pax Gold (PAXG)? How does It work? Let’s find out, and we can also look at some of the Pax Gold Price Predictions that were being made as of April 15, 2024.

Pax Gold Coin Price Prediction

Let’s examine some of the Pax Gold price predictions made on April 15, 2024. It is crucial to remember that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex  had a short-term Pax Gold price prediction that saw the coin go to $2,386.84 by April 20 before decrasing to $2,420.68 by May 19. The site’s technical analysis was highly bullish, with 29 indicators sending positive signals and two making a bearish one.

Pax Gold Price Prediction for 2024

DigitalCoinPrice  said Pax Gold would reach $5,161.16 this year, while Changelly  expects it to be at $2,163.09, and PricePrediction.net  said PAXG would close the year at $3,695. 

Pax Gold Price Prediction for 2025

PricePrediction.net said Pax Gold would reach $5,606 and Changelly sees it at $5,605. DigitalCoinPrice said PAXG would trade at $6,132.97.

Pax Gold Price Prediction for 2030

Moving on to a more long-term Pax Gold price prediction, Changelly said the coin would be worth $35,102 in 2030 and PricePrediction.net expects it to be $35,106, too. DigitalCoinPrice made a PAXG price prediction of $17,736.87 at the start of the next decade.

Google Gemini AI Price Prediction for Pax Gold (as of April 15)

Google’s Gemini AI platform gave the following price prediction for Pax Gold on April 12. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are not entirely accurate.

Short Term (Next three months)

• Expected price: $2,700

• Factors to Consider:
  • Gold Price: Since Pax Gold is pegged to the price of gold, its price will likely move in tandem with the physical gold market.
  • Demand for Stablecoins: If the demand for stablecoins like Pax Gold increases as a safe haven asset, its price could rise.
  • Regulations: Regulatory changes or uncertainty surrounding cryptocurrencies could impact Pax Gold’s price.
  • Overall Market Conditions: Broader market conditions, including stock market performance and investor sentiment, can also influence the price of Pax Gold.

Medium Term (Next six months)

• Expected price: $2,600

• Factors to Consider:
  • Gold Price: Since PAXG is directly tied to the price of physical gold, fluctuations in the gold market will significantly impact PAXG’s price.
  • Demand for Stablecoins: Increased investor interest in stablecoins, particularly those backed by physical assets like gold, could drive up PAXG’s price.
  • Regulations: Regulatory changes affecting cryptocurrency or gold ownership could impact PAXG’s adoption and price.
  • Overall Market Sentiment: Positive sentiment towards cryptocurrency could lead to a general rise in prices, including PAXG.
  • Adoption of PAXG: Increased use of PAXG for transactions or as a store of value will influence its price.

Long Term (Next five years)

• Expected price: $3,800

• Factors to Consider:
  • These are just potential scenarios, and the actual price could be significantly higher or lower.
  • The price of PAXG is directly tied to the price of gold, so fluctuations in the gold market will heavily influence PAXG’s price.
  • Events like global economic downturns, geopolitical tensions, or technological disruptions can significantly impact the price of both gold and PAXG.
  • Regulations on cryptocurrencies can also affect market sentiment and prices.

Pax Gold Price History

Let’s now look at some of the highlights and lowlights of the Pax Gold price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Pax Gold price prediction. 

When Pax Gold first came onto the open market in September 2019, it was worth $1,515.44. Being linked to the gold movements, the coin had a robust time during the following years – especially under the pandemic – growing during a high-inflation time.

In 2024, gold – and PAXG as well – hit a new high, and Pax Gold reached a record high of $2,369.61 on April 15, 2024.

At that time, there were 182,647 PAXG, representing the total supply. This gave Pax Gold a market cap of about $432.8 million, making it the 158th largest crypto by that measurement.

Is Pax Gold a Good Investment?

It is hard to say. The coin has been around for a long time, and on the horizon, there’s a clear bullish sign.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in Pax Gold.

Will Pax Gold go up or down?

No one can really tell right now. While the Pax Gold crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Pax Gold?

Before you decide whether or not to invest in Pax Gold, you will have to do your own research, not only on PAXG, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Pax Gold (PAXG) Explained

How PAXG Works

Pax Gold Attention Tracker

Here is a chart for the Pax Gold Google search volume for the past 90 days. This represents how many times the term “Pax Gold PAXG” has been Googled over the previous 90 days.

FAQs 

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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About the Author

Giuseppe Ciccomascolo

Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors. Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.

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