The digital gold tokens are facing a window of value re-discovery. The recent strong performance of the precious metals market—silver soaring significantly in a single week and gold continuously hitting new highs—reflects the market's strong expectations of Fed rate cuts and concerns over the ongoing depreciation of the US dollar. In this context, capital is seeking assets with genuine inflation resistance and physical value backing, and on-chain tokenized gold happens to be at the intersection of traditional assets and the digital ecosystem.

The macro logic is clear: expectations of interest rate cuts → US dollar under pressure → capital allocation shifting to hard assets. The strength in silver prices has already validated this trend. Rather than saying the liquidity in the crypto market is attracted by precious metals, it’s more accurate to say market sentiment is re-pricing digital tokens backed by real assets. The growth in industrial demand further reinforces this expectation, creating a virtuous cycle for the entire precious metals ecosystem.

From a technical perspective, $PAXG currently needs close attention at the 4544.25 USDT level. The recent support is around 4491.7, and if touched, it could be an opportunity to buy on dips. There is also support in the range of 4463.35-4523.8 for defense. The upward resistance lies between 4496.32-4571.9; only a breakout above this range can confirm the momentum for a new round of upward movement.

Practically, when approaching the 4491.7 support level, you can place buy orders to establish long positions, with stop-losses set below the breakdown point. The market is re-pricing, and tokens that can connect the traditional financial world with digital assets have their unique value highlighted in this wave of market movement.