Tokenized gold drives weekend price signals while CME futures are closed
Tokenized gold markets like PAXG and XAUt now handle nearly all gold price discovery when CME futures shut for the weekend.
Gold pricing shifts onto blockchain networks once US futures markets close for the weekend, according to Iggy Ioppe, former chief investment officer at Credit Suisse and now chief investment officer (CIO) at liquidity infrastructure firm Theo.
CME gold futures stop trading at 5:00 pm ET on Friday and reopen at 6:00 pm ET on Sunday. During that interval, regulated futures markets are inactive and most remaining activity occurs through private over-the-counter deals in Asia that are not publicly reported.
As a result, tokenized gold assets such as PAXG and XAUt become among the few continuously traded, publicly visible instruments that reference gold over the weekend.
