Gold prices are rising as concerns over stagflation in the U.S. economy (inflation amid the economic downturn) are growing due to the tariff shock caused by U.S. President Donald Trump.

Gold prices are rising as concerns over stagflation in the U.S. economy (inflation amid the economic downturn) are growing due to the tariff shock caused by U.S. President Donald Trump.

As the U.S. economy shows signs of stagflation—inflation amid an economic downturn—due to the tariff shock from President Donald Trump, gold prices are rapidly increasing.

The market capitalization of real gold-based coins, Pax Gold (PAXG) and Tether Gold (XAUT), has exceeded KWT 2 trillion, the highest ever, as demand for investment in gold continues to rise.

According to CoinMarketCap on the 30th, the combined market capitalization of the two coins was $1,443,551,000 as of midnight. Both coins are tokens that are backed by physical gold. For Pax Gold, it is being held in the London Gold Market Association (LBMA) vault. The tether gold is kept in a vault in Switzerland. The name of the facility was not disclosed.

Gold-based coins are showing high growth as the price of gold has also shot up.

In the case of Bithumb-listed Pals Gold, Bitcoin has dropped 2% over the past week, rising about 5% despite the overall sluggish virtual asset market.

Gold futures went up 0.75% from the previous trading day on the New York Mercantile Exchange (COMEX) on the 28th (local time), closing at $3,114.3 per troion, the highest price ever.

After surpassing $3,000 per troion for the first time on the 13th, it rose 17.92% from the beginning of this year to this day. It has risen 9.33 percent in the past month.

While the Trump administration announced a mutual tariff deferral on April 2 following the announcement of 25% auto tariffs on the 26th, tariff uncertainty has strengthened the preference for safe assets.

The recent increase in demand for gold-based coins is also a reason for the growth of market capitalization.

The combined market capitalization of the two coins was $958.26 million a year ago, which surged 50.64% in a year. It is somewhat higher than the increase in gold prices during the same period.

Gold-based coins have the advantage of being very easy to store compared to real gold investments. If there is no storage fee and you have a token equivalent to a bullion, it is also possible to convert it into real gold.

Compared to gold exchange-traded funds (ETFs), the advantage is that there are no expenses such as taxes other than transaction fees.

In the U.S., funds are also being concentrated on gold ETFs.

According to Coscom ETF Check on the 30th, the net assets of "SPDR Gold Share (GLD)" increased by $9,610,000,000 (about 14,128.7 trillion won) in the past month. The increase was the largest among ETFs listed in the U.S. during the same period.

Like GLD, the iShares Gold Trust (IAU), which invests in kind of gold, also ranked second in net asset growth, with a net asset increase of $4,393,000,000 (about 6,456.5 trillion won) during the same period.

In GLD, the price was less than a quarter and the fee was reduced by less than half, and the net asset of "SPDR Gold Minishares Trust" also increased by $2,269.1 billion (about 3,335 trillion won) over a month.

The yield on ETFs containing gold mining companies is also on the rise.

According to ETF Check, the ETF with the highest return on the U.S. stock market this year, excluding leverage and inverse stocks, is the "Wizdumtree Effort Gold + Gold Mining Company Strategy ETF (GDMN)," which rose 50.34% from the beginning of this year.

Other gold mining companies' ETFs, such as the Sprot Gold Mining Company ETF (SGDM) and the iShares MSCI Global Gold Mining Company ETF, also rose more than 30%.