Daily Crypto Briefs 
ABU DHABI, UAE, Jan. 14, 2026
Binance said it launched gold and silver perpetual futures under a new “TradFi Perpetual Contracts” category, listing XAUUSDT and XAGUSDT with leverage up to 50x as XAUUSDT traded around 4,639 USDT per ounce and XAGUSDT around 93 USDT per ounce on Jan. 14.
The rollout adds USDT-settled exposure to precious metals on Binance Futures through perpetual contracts that do not expire, rather than spot trading in bullion or standard dated futures.
Market snapshot: By Jan. 14, Binance Futures data showed XAUUSDT last traded around 4,639 USDT and XAGUSDT around 93.24 USDT, with 24-hour quote volume of about $47.8 million for XAUUSDT and about $121.3 million for XAGUSDT. Open interest stood near 2,367 XAU and about 181,639 XAG, with funding around 0.005% per four hours, according to Binance Futures data.
Traders also built volume quickly after listing. Binance Futures hourly data showed cumulative quote volume of about $376.9 million on XAUUSDT since it started trading and about $331.1 million on XAGUSDT since its listing, based on Binance Futures data.
These charts show daily closes across the past 30 days for gold (XAU/USD) and silver (XAG/USD), based on Stooq data.
Context: The TradFi perpetuals arrive after months of growing demand for metal exposure on crypto rails, from tokenized gold products to marketing-driven copycats and outright scams, which is why readers have been cautioned to verify announcements and links in cases like Circle’s “CircleMetals” warning. Binance said XAUUSDT and XAGUSDT are the first listings in the category, and it plans to expand to more traditional assets.
In a press release carried by PRNewswire, Binance said the contracts are offered by its Nest Exchange Limited entity under the Financial Services Regulatory Authority of Abu Dhabi Global Market, and a Binance product executive said the goal is to give round-the-clock access to conventional assets through the same interface traders use for crypto perpetuals.
The product also brings a familiar crypto risk profile into a market many traders treat as a hedge. Leverage can compress liquidation distance and turn a modest move in gold or silver into a forced exit, even when the underlying narrative is “safe haven.”
At 50x leverage, a 2% adverse move can be enough to trigger liquidation once fees and maintenance margin are factored in. That math is one reason precious-metals volatility can feel sharper on a perpetual contract than it does in a cash-only allocation.
What is still unclear is practical. Binance did not publish in the press release which regions can access the contracts or how leverage tiers and eligibility rules are set across account types, and early liquidity conditions will be easier to judge after a full week of funding, volume, and open interest data.
Binance lists XAUUSDT and XAGUSDT as USDT-settled gold and silver perpetual futures
Binance framed the rollout as a new product category that lets users trade traditional assets through USDT-settled perpetual contracts on Binance Futures. In plain terms, you are trading a derivative whose profit and loss is paid in USDT, not buying gold or silver, and not taking delivery.
Perpetual futures are designed to trade like spot markets because they have no expiry date. The cost of holding a position is shaped by periodic funding payments that aim to keep the contract price close to an external reference, plus fees and any gap between mark price and last traded price.
That design can be attractive for traders who want to hedge a crypto portfolio with metals exposure without leaving a derivatives venue. It can also tempt over-sizing, which is where many retail accounts run into the same failure mode we describe in Why Most People Should Not Trade Crypto Futures in 2025.
For readers who want exposure without liquidation risk, a rules-based spot approach can be easier to manage than a leveraged perpetual position. Our guide to a dollar-cost averaging plan for crypto is built around that same idea of limiting decision pressure and avoiding forced timing.
How Binance prices XAUUSDT and XAGUSDT when gold and silver markets are closed
Binance said it keeps trading available even when the underlying metals markets are not open, and it described a pricing model built around an index price and a mark price.
In the press release, Binance said the price index aggregates data from multiple vendors and updates every second during market hours. Outside those hours, it said the index stays fixed at the last value.
Binance also said the mark price updates every second and can use a smoothed price during off-hours to reduce abrupt jumps. The company said it applies constraints on how far mark price can diverge from the index price, giving ±3% as an example band for commodity contracts such as XAUUSDT.
Those mechanics matter because liquidation is driven by mark price, not just last traded price. A market that trades 24/7 with a fixed index outside core hours can still see sharp moves in the contract price, and traders may not have a live spot market print to benchmark volatility.
ADGM regulation, leverage risk, and what to watch after the TradFi perpetuals launch
Binance said the TradFi Perpetual Contracts are offered by Nest Exchange Limited, which it described as regulated by the Financial Services Regulatory Authority of Abu Dhabi Global Market as a Recognized Investment Exchange. That matters for disclosure and oversight, even if the trading feel resembles crypto perps.
The near-term question for traders is less about branding and more about microstructure. Volume, open interest growth, and funding rate behavior will show whether these contracts attract hedgers, short-term speculators, or both, and whether pricing stays tight when traditional metals venues are closed.
Leverage is the other key variable. Binance markets leverage up to 50x for the contracts, and it did not break down in the press release how leverage tiers vary by user eligibility or risk limits, details that can shape the distribution of liquidations during thin hours.
Next, traders will watch whether Binance adds more TradFi pairs beyond gold and silver, and whether the exchange publishes clearer contract specifications, including how price bands behave across weekends and holiday closures. In parallel, any shift in U.S. rates or inflation data that moves gold and silver can feed into funding and open interest on these perps, creating a new set of cross-asset signals that crypto traders will have to interpret with care.
Primary sources and further reading
| Source | Title |
|---|---|
| | Binance press release via PRNewswire: TradFi Perpetual Contracts |
| | Binance Futures API: XAUUSDT 1h candle at Jan 8, 2026 08:00 UTC |
| | Binance Futures API: XAGUSDT 1h candle at Jan 8, 2026 08:00 UTC |
| | Stooq: Gold price (XAU/USD) daily closes (past 30 days) |
| | Stooq: Silver price (XAG/USD) daily closes (past 30 days) |
Frequently Asked Questions
What are Binance TradFi Perpetual Contracts?
Binance described TradFi Perpetual Contracts as USDT-settled perpetual futures that provide exposure to traditional assets. The first contracts listed were gold (XAUUSDT) and silver (XAGUSDT).
What are XAUUSDT and XAGUSDT on Binance Futures?
XAUUSDT and XAGUSDT are Binance Futures symbols for gold and silver perpetual futures, with profit and loss settled in USDT. The contracts do not have an expiry date.
Are Binance’s gold and silver perpetual contracts regulated?
Binance said the contracts are offered by its Nest Exchange Limited entity under Abu Dhabi Global Market oversight through the Financial Services Regulatory Authority.
Does trading XAUUSDT or XAGUSDT mean you own gold or silver?
No. Binance said TradFi perpetual contracts do not represent ownership of the underlying asset, so there is no physical delivery of metal.
How does Binance price gold and silver perps when metals markets are closed?
Binance said its index price updates during market hours and stays fixed outside those hours, while mark price can use smoothing during off-hours. It also described deviation constraints, giving ±3% as an example band for commodity contracts like XAUUSDT.
What leverage is available on Binance gold and silver perpetual futures?
Binance said leverage is available for the contracts, and reports on the rollout described leverage up to 50x. The press release did not detail how leverage tiers vary by eligibility or risk limits.