PAX Gold (PAXG) Surges 1.5% as Spot Gold Hits $3419.70 per Ounce

According to recent market data from COINOTAG News on June 13, spot gold prices have surged intraday by 1.00%, reaching a valuation of $3419.70 per ounce. This uptick reflects growing investor interest in precious metals amid fluctuating global economic conditions. Concurrently, the gold-backed cryptocurrency PAX Gold (PAXG) has experienced a notable 1.5% increase over the last 24 hours, securing its position as the fifth highest gainer on Binance’s daily performance chart. These movements underscore the strengthening correlation between traditional assets and digital tokens, highlighting PAXG’s role as a viable hedge within the crypto ecosystem. Market participants are closely monitoring these trends as they navigate portfolio diversification strategies in volatile markets.