PAX Gold (PAXG) Drops 3.5% as Gold Market Sells Off - CoinMarketCap

AI desk brief

PAX Gold (PAXG) dropped about 3.5% as a sharp macro-led selloff in gold hit the market, with Comex gold futures down roughly 2.11% and silver off 3.59% in the same window. The article says PAXG slid from around $4,276 to $4,186, and stresses there was no PAXG-specific depeg or reserve issue—just a direct mirror of bullion weakness.

The reported drivers were higher U.S. Treasury yields, a firmer dollar and expectations of further Fed tightening, which raised the opportunity cost of holding non-yielding gold. Geopolitical tension around Iran and a spike in oil added to the risk-off backdrop, but flows went toward cash and yield rather than safe-haven metals.