Tether's Gold Reserves Rise Despite Q2 Gold Price Plummet

Tether's physical gold reserves expanded by 9.5% in the second quarter of this year, despite spot gold prices plummeting 14.1%. This is according to Tether's latest attestation report, which revealed that the tokenized gold product XAUt saw its backing reserves grow to approximately 146 metric tons.

Tether CEO Paolo Ardoino said that holders of XAUt are using periods of market weakness to increase their ownership of physical gold through a fully backed and transparent product. He framed this as evidence of sustained demand for tokenized gold exposure beyond simple price speculation.

The reserve increase comes amidst a turbulent period for the broader tokenized real-world asset (RWA) market, which saw the total value of distributed tokenized commodities fall 4.2% over the past 30 days to $4.58 billion.