Tether Gold’s (XAUT) circulating supply is backed by 7.7 tons of gold, revealed a third-party attestation. According to an announcement posted on Tether’s official website, “Each XAU₮ token is backed 1:1 by one troy ounce of physical gold, securely stored in a dedicated vault within world-class facilities in Switzerland”. Accounting firm BDO Italia undertook the first attestation for 2025 and revealed the above findings. As of April 21, 2025, Tether Gold reached $3,423–up 9.6% from the end of Q1/25.
Tether’s announcement further read, “The growth of Tether Gold during Q1 was driven by escalating global economic uncertainty, heightened geopolitical tensions, and a rising demand for inflation-resistant stores of value. A sustained surge in market cap occurred amid investor fears of new international trade tariffs, further validating gold’s role as a hedge in volatile markets. It is important to note that the quantity of inventory reflected in the attestation is of greater significance than the price, which remains subject to volatility.”
With the unstable dollar, the macro market trends have been such that central banks, particularly from BRICS nations have persistently opted to acculmulate gold to diversify from the dollar. As such the global gold reserves stand at 37,755 metric tons from 2024 year-end. Central bank net purchases in 2024 accumulated to 1,044.6 metric tons while in Q4 of 2024, the central bank bought 332.9 metric tons of gold.
Paolo Ardoino, CEO of Tether stated: “Tether Gold continues to demonstrate the strength and resilience of gold as a store of value, especially in times of economic uncertainty,”.
