PAX Gold vs 
Tether Gold
Two tokens that each represent real gold, differing on issuer and jurisdiction. PAX Gold is issued by Paxos, regulated in New York, with each token tied to a specific London Good Delivery bar you can look up. Tether Gold is issued by Tether, with bullion held in Switzerland. Both let you hold gold exposure without a vault account; both put you back in the position of trusting a company to actually hold the metal.
12 months, both starting at 100 (AUD)
PAXG → 110 · XAUT → 110| Measure | PAXG | XAUT |
|---|---|---|
| Market cap | A$2.6B | A$3.8B |
| Rank | #53 | #40 |
| Price | A$6,086.85 | A$6,091.61 |
| 90-day change (AUD) | +4.8% | +4.9% |
| 12-month change (AUD) | +6.8% | +6.9% |
| From all-time high | −23.3% | −22.1% |
| Supply model | No fixed maximum | No fixed maximum |
| AU exchanges we verify it on | 2 | 1 |
About PAX Gold
PAX Gold (PAXG) is a tokenised claim on physical gold — each token represents one fine troy ounce held in vaults by the regulated issuer Paxos. It tracks the gold price rather than crypto sentiment.
About Tether Gold
Tether Gold is a tokenised claim on physical gold held in Swiss vaults by the issuer of USDT — each token representing one fine troy ounce. It tracks the gold price, not crypto sentiment.
FAQ
Which is bigger, PAX Gold or Tether Gold?
By market value today: Tether Gold (A$3.8B vs A$2.6B). Size measures money invested, not quality — but it does measure liquidity, which affects how easily you can buy and sell.
Which performed better this year?
Over the past 12 months in AUD terms: PAXG +6.8%, XAUT +6.9% — the chart above shows the whole path, which matters more than the endpoints. Past performance is no indicator of future results, in either direction.
Can I buy both in Australia?
Yes — both are listed on AUSTRAC-registered exchanges we verify. PAXG appears on 2 of our reviewed platforms and XAUT on 1. Compare costs first on the fee calculator, and remember every crypto-to-crypto swap between them is a CGT event.
Should I hold PAXG or XAUT?
That's a personal decision we don't make for you — this page exists to make the structural differences clear so the choice is yours. What we'd say to anyone: understand what job each coin is designed for, size positions like the risk is real, and check the honest failure statistics before going further down the market-cap list.
Data from our market records (powered by CoinGecko), refreshed with the daily rebuild. General information only, not financial advice — we compare structure and history, we don't pick winners.