While the entire crypto market is feeling the heat, PAX (Gold) is telling its own unique story today. As a digital asset backed 1:1 by physical gold, it’s currently mirroring a massive "reset" in the precious metals market.
Here is what’s happening with PAXG right now:
📉 The $3 Trillion "Flash Pullback"
After an explosive January rally that pushed gold prices to nearly $5,600 per ounce, the market hit a wall.
As seen witnessed in the market today, PAXG (PAXG/USDT) has retreated to around $5,061.22, reflecting a broader gold price crash of about 8% from its recent record highs.
After a rapid 24.1% gain in just the first 29 days of January 2026, many major investors decided to "bank" their winnings, leading to a sudden surge in selling pressure.
🔍 The US dollar has unexpectedly bounced back, making gold more expensive for international buyers and causing a typical inverse price drop.
The Federal Reserve recently kept interest rates unchanged, signaling they aren't ready to pivot to "easy money" just yet, which traditionally cools down gold’s momentum.
With the U.S. stock market also seeing declines, some investors are forced to sell their "safe" PAXG holdings simply to cover losses elsewhere in their portfolios.
📊 The chart today shows a clear downward slope, with the price currently sitting below the MA60 (60-period Moving Average) at 5,099.48, indicating short-term bearish momentum.
Despite this sharp "red candle" today, gold demand from central banks remains at record highs, and many analysts still view this as a healthy "pause" rather than the end of the bull run.
PAXG is proving today that even "safe havens" aren't immune to a wild ride.
