PAXG Drops 3.5% as Gold Market Sells Off
PAX Gold (PAXG)
Editor:
Eugene Serbin
world-gold.org reported that PAX Gold (PAXG) dropped 3.5% as the gold market sold off on September 28, 2026. Gold settled at $4,170 an ounce, which is $134.06 per gram, marking a -3.51% decline for the day. The outlet noted that the 3.5% figure was quoted as published by CoinMarketCap rather than independently verified. Confirmation of how this development may change short-term gold-price expectations requires comparing the data with COMEX, the dollar, yields and trading volume.
How the market reacted
Whalio's own Binance spot order flow for PAXG, measured when this story was written up on 28 September 2026. Not the outlet's figures.
PAXG is currently trading at $4,258.53 with a 1-hour buy ratio of 33.5%, indicating that selling pressure is dominant in the immediate short term. However, the 4-hour buy ratio stands at 53.1%, suggesting that buying pressure is building over a slightly longer timeframe compared to the hourly snapshot. The 24-hour buy ratio is 41.4%, showing that buying has been less consistent over the full day than in the last four hours. Volume Delta measures the net difference between buy and sell volume; the 1-hour delta is -$126,928, reflecting recent net selling, while the 4-hour delta is +$378,993, showing net buying over that period. Over 24 hours, the Volume Delta is -$791,239 and Cumulative Volume Delta (CVD) closed at -$2,331,063, indicating that sellers have dominated the daily flow.
The latest daily buy ratio of 49.5% sits at the 60th percentile of the last 322 days, against a median of 48.4% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for PAXG, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 54.3%, meaning today's 24-hour ratio of 41.4% is 12.9 points lower than the weekly average. This indicates that buying activity has weakened significantly compared to the norm. Spot volume over the last 24 hours was $4,599,718, which is only 0.28x the weekly average, showing that trading activity is unusually low. While there were 5 days of net buying out of 7 in the week, the 8-day price change was -2.4%. The 8-day Volume Delta total was +$7,555,022, contrasting with the negative daily delta seen today.