Gold prices hit a record high, with spot prices surpassing $4,500 per ounce, and the on-chain tokenized gold market has also heated up. According to the latest data, the tokenized commodity market size has approached $4 billion, with Tether Gold and Paxos Gold being the main drivers. Behind this surge, the synchronized rise of physical gold and on-chain gold tokens reveals the close connection between the two markets.

Why is tokenized gold so attractive? One key reason is that geopolitical uncertainties have increased the demand for safe-haven assets. Traditional gold investments require physical storage and transportation, which can be cumbersome, but on-chain gold tokens break down these barriers—investors don't need to hold physical gold; they can simply lock tokens in their wallets to gain exposure to gold prices and enjoy the liquidity of 24-hour global trading. For crypto investors, this means adding a hedging tool without leaving the ecosystem, allowing for quick risk transfer during bear markets.

However, investors also need to stay vigilant. Although Tether Gold and Paxos Gold are backed by physical gold, details such as redemption mechanisms, custodial risks, and the frequency and transparency of third-party audits still require ongoing attention. Ultimately, no matter how good liquidity and convenience are, security and credibility are the foundation for long-term holding.