Risk-off sentiment returned ahead of the Federal Reserve’s policy meeting, sending gold and its cryptocurrency derivatives higher on Monday.
What happened: Spot gold was up 0.74% to $3,358.91 per ounce as of this writing, after hitting a two-week high earlier in the session.
The gains filtered down to physical gold-backed cryptocurrencies, spurring a 3% spike in Tether Gold and PAX Gold.
With the latest spike, the two coins extended their year-to-date gains to over 28%, becoming one of the most valuable cryptocurrency investments in 2025.
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| Cryptocurrency | Gains +/- | YTD Gains +/- | Price (Recorded at 12:45 a.m. ET) |
| PAX Gold (CRYPTO: PAXG) | +3.04% | +28.30% | $3,378.49 |
| Tether Gold (CRYPTO: XAUT) | +3.02% | +28.44% | $3,373.35 |
Bitcoin, on the other hand, remained muffled, gaining only 0.15% in the last 24 hours. Year to date, the apex cryptocurrency has risen 1.24%, significantly trailing the gold-backed cryptocurrencies.
The cautious tone comes ahead of the Fed’s policy meeting, which begins Tuesday, with investors pricing in a 97% chance of interest rates remaining unchanged, according to the CME FedWatch tool.
Uncertainty over President Donald Trump’s tariffs also weighed on the market, with no progress on a trade deal between the U.S. and China.
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