The Central Bank of Tether - impact on gold

Tether gold purchased approximately 450k oz of gold in Q2/26 according to their external reporting, more than double the 210k oz bought in Q1/26, bringing its total holdings to 4.7Moz, worth $18.8 billion. Tether’s gold-backed stablecoin, now stands at ~$2.5B, up from ~$1.8B to start 2026, representing a 41% increase year-to-date in market cap despite the recent weakness in gold prices, as reported by Kitco. While Central Banks continue to buy gold and 45 % surveyed by the WGC said they will buy more this year, Tether took advantage of the recent dip which definitely helped support the price while the USD and oil was climbing due to Iran crisis.

See more information about Tether and gold on Watchgold.org.