Tether Gold Reserves Rise 9.5% in Q2 Despite Bullion’s Worst Quarter Since 2013

Tether Gold’s physical gold reserves rose in the second quarter even as spot bullion logged its worst quarterly performance in 13 years.

Cointelegraph reported on August 4 that the physical gold backing Tether Gold, or XAUt, increased 9.5% in the second quarter. Tether attributed the gain to stronger demand for tokenized gold products. Over the same period, spot gold fell 14.1%, marking its steepest quarterly drop since the second quarter of 2013.

In an XAUt attestation report released on August 4, Tether Chief Executive Officer Paolo Ardoino said holders do not buy the token only when gold prices are rising. Instead, they are using weak market conditions as an opportunity to increase their physical gold exposure through a product that offers full backing, transparency, liquidity and on-chain accessibility.

Data from RWA.xyz showed the total value of tokenized real-world assets in circulation fell 4.2% over the past 30 days to $4.58 billion. The number of holders, however, rose 6.5% to 253,000.

In the first quarter, XAUt reserves climbed 36% to 707,747 fine troy ounces, with a value of $3.3 billion at quarter-end. Tether Gold remains the largest tokenized real-world asset product, with a total value of $2.4 billion.

In July, the token also received Sharia certification from Islamic finance advisory firm Amanie Advisors, expanding access to the Islamic finance market.