Which cryptocurrencies are directly influenced by global gold prices?

7 answers

• Tuan KietMar 10, 2022 · 4 years ago
  Sure! There are several cryptocurrencies that are directly influenced by global gold prices. One of the most well-known examples is Tether Gold (XAUT), which is a stablecoin backed by physical gold. Its value is directly tied to the price of gold, so any changes in the gold market will have a direct impact on its price. Another cryptocurrency that is influenced by gold prices is DigixDAO (DGD), which is a token backed by physical gold stored in vaults. The value of DGD is directly linked to the price of gold, so if gold prices go up, the value of DGD will also increase.
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• Ítalo Pescador VarzoneJul 01, 2024 · a year ago
  Absolutely! When it comes to cryptocurrencies that are directly affected by global gold prices, one cannot ignore PAX Gold (PAXG). PAXG is a digital asset that represents physical gold held in custody by Paxos Trust Company. Its value is directly tied to the price of gold, so any changes in the gold market will have a direct impact on its price. Another cryptocurrency to consider is GoldCoin (GLC), which is a decentralized digital currency backed by gold. The value of GLC is influenced by the price of gold, so if gold prices go up, the value of GLC will also rise.
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• Montassar Bellah taiebJan 05, 2024 · 2 years ago
  Yes, there are several cryptocurrencies that are directly influenced by global gold prices. One such example is BYDFi (BYD), a decentralized finance platform that allows users to trade digital assets backed by physical gold. The value of BYD is directly influenced by the price of gold, so any changes in the gold market will have a direct impact on its price. It's important to note that BYDFi is just one of many cryptocurrencies that are influenced by gold prices, and investors should conduct thorough research before making any investment decisions.
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• TATHAGAT KUMARDec 20, 2021 · 4 years ago
  Definitely! Global gold prices can have a significant impact on certain cryptocurrencies. For example, AurusGOLD (AWG) is a cryptocurrency that is directly backed by and redeemable for 1 gram of 99.99% pure gold. Its value is directly tied to the price of gold, so any fluctuations in the gold market will be reflected in the value of AWG. Another cryptocurrency to consider is Karatgold Coin (KBC), which is a token backed by gold. The value of KBC is influenced by the price of gold, so if gold prices go up, the value of KBC will also increase.
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• John VenpinNov 22, 2021 · 4 years ago
  Of course! There are several cryptocurrencies that are directly influenced by global gold prices. One such cryptocurrency is Gold Bits Coin (GBC), which is a digital asset backed by physical gold. The value of GBC is directly linked to the price of gold, so any changes in the gold market will have a direct impact on its price. Another cryptocurrency to consider is GoldCoin (GLD), which is a decentralized digital currency that is backed by gold. The value of GLD is influenced by the price of gold, so if gold prices go up, the value of GLD will also rise.
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• Hadiza GarbaJun 15, 2020 · 5 years ago
  Certainly! When it comes to cryptocurrencies that are directly affected by global gold prices, one cannot overlook Digix Gold Token (DGX). DGX is an Ethereum-based token that represents physical gold stored in vaults. Its value is directly tied to the price of gold, so any changes in the gold market will have a direct impact on its price. Another cryptocurrency to consider is HelloGold (HGT), which is a digital asset backed by gold. The value of HGT is influenced by the price of gold, so if gold prices go up, the value of HGT will also increase.
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• Igor ContriApr 19, 2021 · 5 years ago
  Indeed! There are several cryptocurrencies that are directly influenced by global gold prices. One such example is Perth Mint Gold Token (PMGT), which is a digital asset that represents physical gold held by The Perth Mint. Its value is directly tied to the price of gold, so any changes in the gold market will have a direct impact on its price. Another cryptocurrency to consider is GoldCoin (GLC), which is a decentralized digital currency backed by gold. The value of GLC is influenced by the price of gold, so if gold prices go up, the value of GLC will also rise.
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