Tether Emerges as Major Gold Buyer, Contributes to Precious Metal Rally

Tether, the issuer of the popular stablecoin USDT, has become a major force in the global gold market. According to recent research, Tether acquired approximately 27 metric tons of gold during the first half of 2026, placing it alongside Kazakhstan in terms of institutional gold purchases.

This volume represents a significant increase in Tether's gold reserves, which have grown by around 85 metric tons since Q1 2025. This surge in gold buying has contributed to the precious metal's summer rally, with spot gold prices hovering around $4,420 per ounce.

Tether's gold accumulation strategy mirrors traditional central bank strategies, aiming to diversify its portfolio and create a buffer against inflationary pressures and US dollar depreciation. The company operates a blockchain-based gold product called Tether Gold, which digitizes ownership rights to physical bullion.