The spot price of gold declined on Tuesday, November 4, 2025, trading at $3,935.28 per troy ounce, down $68.01. Silver is trading at $47.08, dropping $0.96. This modest retreat follows consolidation in precious metals markets as investors digest mixed macroeconomic signals. The broader economic backdrop continues to support safe-haven positioning, with gold maintaining levels well above the psychologically important $3,900 mark while silver remains elevated near the $47-50 range that represents its highest levels in approximately 14 years. Market sentiment remains supported by persistent geopolitical uncertainties and expectations of continued accommodative monetary policy from major central banks. The U.S. dollar index movement and ongoing U.S.-China trade negotiations continue to influence near-term volatility, with a weekend summit indicating progress on tariff discussions that temporarily tempered safe-haven demand. Q3 2025 showed record gold demand reaching 1,313 metric tons valued at $146 billion, reflecting the strongest quarter on record as investors sought shelter from market turbulence through exchange-traded fund purchases and physical bar and coin acquisitions.
A new trend is reshaping the gold investment landscape, as tokenized gold products on blockchain platforms have started to outpace gold ETFs in trading activity and market visibility. In Q3 2025, tokenized gold—including leading offerings like Tether Gold (XAUT) and Paxos Gold (PAXG)—reached over $1 billion in daily trading volume, surpassing the world’s second-largest gold ETF by volume, BlackRock’s iShares Gold Trust (IAU), for the first time on record. While tokenized gold’s market capitalization of around $3 billion remains dwarfed by giants like SPDR Gold Shares (GLD) and IAU, its trading velocity is dramatically higher, with volume-to-market-cap ratios several times those of ETFs, reflecting strong investor preference for the flexibility and instant settlement that blockchain-based gold provides. This acceleration is largely driven by macro volatility and the desire for 24/7 access to gold exposure without traditional fund limitations. Tokenization also lowers barriers for retail and institutional entry, enabling fractional ownership and rapid response to global events. With gold prices soaring, tokenized gold now ranks as a mainstream safe-haven vehicle for investors worldwide, and the 2025 surge marks a transition likely to impact portfolio construction for years to come.
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