Tether Gold Reserves Surge 59% as Physical Bullion Holdings Hit $3.44B

Tether Gold reserves reached a record $3.44 billion in September as investors increased their exposure to physical gold. The reserves grew 59% from December, reaching 827,418 fine troy ounces, equivalent to approximately 25.7 tonnes.

In a November 4 announcement, Tether reported that XAU₮ circulation stood at 827,417.63 tokens, closely matching its gold reserves. The company said holders added more than nine tonnes this year. Swiss vaults held 2,057 gold bars at the end of September, according to the announcement.

Swiss Gold Reserves Expand

The reserve value increased from $2.25 billion at year-end. Gold traded at $4,157.41 per ounce on September 30, reflecting the value used in the reserve report.

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Tether CEO Paolo Ardoino commented on the token’s gold backing, saying, “For t…

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