Gold’s rally has melted faces over the last couple of years. But while most have been fixated on the gold chart, Tether has been stacking bullion in the background like a mid-tier central bank.

AI-generated source summary

Tether has emerged as a significant player in the gold market, with its gold holdings rivaling those of some central banks. According to Tether's Q3 2025 attestation, the company reported $181 billion in assets, backing $174 billion in USDT stablecoins. A substantial portion of these reserves includes approximately $12.9 billion in precious metals, alongside $112 billion in US Treasuries and $9.8 billion in Bitcoin (BTC). Investment bank Jefferies estimates Tether holds around 116 tonnes of physical gold, having purchased 24 tonnes in Q3 2025 alone, surpassing any single central bank's purchases during that period. This gold allocation represents roughly 7% of Tether's balance sheet. Approximately 12 tonnes of this gold back Tether Gold (XAUT), a tokenized gold product with a 1:1 backing to fine troy ounces of physical gold, currently showing a circulating supply of over 522,000 XAUT tokens. The broader tokenized gold market cap has reached $4.13 billion, with XAUT leading the sector. Tether's strategy extends to investments in gold mining companies, having committed around $300 million to gold royalty and streaming firms. This move diversifies Tether's income beyond US Treasury yields and seeks to secure future gold supply. Despite these efforts, S&P Global downgraded USDT's stability score to

AI-generated summary based on the source content.

Evidence and evaluation progress

1. Original source published

   06 Dec 2025, 19:00 UTC

   The analyst published the original source item.

2. First prediction resolved

   22 Dec 2025, 05:00 UTC

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3. Case evaluation completed

   22 Dec 2025, 05:00 UTC

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4. Source recorded by Tahlil Plus

   18 May 2026, 20:23 UTC

   The public source was preserved as the evidence record for this case.

5. Market predictions extracted

   18 May 2026, 20:48 UTC

   1 eligible signal linked to this case.

6. Outcome tracking started

   02 Jul 2026, 01:22 UTC

   Tahlil Plus began monitoring the extracted predictions.