Historical replay · PAXG/USD
Gold's $60 Drop in Two Hours, and the Climb Back (October 2026)
Tokenized gold (PAXG) fell from $4,160 to $4,093 in the two hours after the hot US CPI report on October 14, 2026, then recovered it all within two days. Replay gold's reaction to a week of inflation data.
PAX Gold (PAXG) is a token backed by physical gold, one token per troy ounce, and it trades around the clock — which makes it a convenient way to watch gold react to news outside exchange hours.
On October 14, 2026 it traded near $4,145 into the US inflation report. The 12:00 UTC hour, which contained the 12:30 release, ranged from $4,159.75 down to $4,099.51 on $5.5 million of volume, more than ten times the previous hour. The low of the day, $4,087, came at 16:00 UTC.
The recovery was steady rather than sharp. On October 15, as the producer price index jumped but retail sales disappointed, the dollar index fell 0.54% and Treasury yields dropped; PAXG climbed to $4,177 by 18:00 UTC. In the Asian morning of October 16 it reached $4,188, about $100 above Wednesday's low.
The replay shows a pattern that repeats in gold: an inflation surprise first lifts the dollar and yields, and gold falls; if the following data take the edge off rate-hike fears, the metal recovers as the dollar slips. Over these two days, gold miners moved two to three times as much as the metal in both directions.