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Commodities

Tether Gold Sees Strong Demand Amid Falling Gold Prices

Guavy AI Editorial Team
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Gold
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Despite gold prices plummeting 14.1% in Q2 to $4,008 per ounce, investor demand for Tether Gold (XAUT) remained strong.

In fact, customer holdings rose by 9.5%, adding more than 53,000 XAUT during the quarter, which represents ownership of an additional 1.66 tonnes of physical gold.

Tether CEO Paolo Ardoino noted that holders of Tether Gold are not only buying XAUT when the price of gold is rising, but also using periods of market weakness to increase their ownership of physical gold.

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