9.5% Increase in Tether Gold Reserves During Worst Quarter for Gold Since 2013

The physical gold reserves backing Tether Gold (XAUt) increased by 9.5% in the second quarter. This increase occurred while gold fell by 14.1% during the same period, marking its worst quarterly performance since 2013. Paolo Ardoino, CEO of Tether, stated that Tether Gold holders are buying during market downturns to increase their ownership of physical gold. According to data from RWA.xyz, the value of tokenized goods distributed over the past 30 days decreased by 4.2% to $4.58 billion, while the number of holders of these assets rose by 6.5% to 253,000. The physical gold reserves backing XAUt increased by 36% in the first quarter, reaching 707,747 troy ounces, valued at $3.3 billion. As of Monday, Tether Gold, with a total value of $2.4 billion, is the largest distributed tokenized commodity product.

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