Tether Gold Reserves Rise 9.5% as Gold Logs Worst Quarter

Tether Gold (XAUt) increased its physical gold reserves by 9.5% in the April–June quarter, rising from 707,747 fine troy ounces at the end of Q1 to about 775,000 fine troy ounces, according to Tether’s attestation report. The change coincided with a 14.1% decline in gold prices during the quarter, the steepest quarterly drop since the second quarter of 2013.

Tether reported the added ounces are fully allocated in physical gold held in storage to match issued XAUt tokens. The attestation noted the second-quarter increase followed a 36% gain in the first quarter.

The attestation includes a statement from chief executive Paolo Ardoino noting that holders have been increasing exposure to physical gold during periods of price weakness. The report described XAUt as “fully backed, transparent, portable and accessible onchain.”

Industry data show the total value of distributed tokenized commodities fell 4.2% to $4.58 billion over the past 30 days, while the number of holders rose 6.5% to about 253,000. Tether Gold remained the largest product in that category, with roughly $2.4 billion in total value as of Monday.

In July, Amanah Advisors issued Shariah certification for XAUt.

Tether publishes regular attestations verifying the physical reserves that correspond to issued tokens.