The market for tokenized gold has surpassed $2.57 billion as gold prices approach record highs. Tether's XAUT and Paxos' PAXG tokens have seen significant inflows, with XAUT's supply increasing by $437 million to a record $1.3 billion. Meanwhile, PAXG's market capitalization has grown to $983 million, with $141.5 million in net inflows since June. The surge in tokenized gold comes as gold prices rise, driven by the steepening U.S. Treasury yield curve, reinforcing gold's status as a safe-haven asset.