Gold-Backed Crypto Minting Volume Hits 3-Year High as Central Bank Buying Drops

The gold market is experiencing a notable transformation, characterized by reduced central bank purchases and a significant rise in demand for exchange-traded funds and gold-backed cryptocurrencies. Recent data highlights over $80 million in minted tokens, pushing the market cap for gold-backed cryptocurrencies to $1.43 billion and increasing monthly transfer volume by 77%. Meanwhile, total gold demand reached 1,206 tonnes in Q1 2025, bolstered by a doubling in investment demand. Despite a dip in traditional jewelry demand, bar and coin demand remains strong, particularly in China, as investors seek the stability of gold. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk