Gold’s rally hit a pause today as the metal was rejected close to $4,300 per ounce. Spot gold traded near $4,285, marking its highest level since June 18, but buyers failed to sustain momentum above the psychological round number.
Still, the recent strength has been notable, and the physical demand picture just got even more interesting.
Tether, the world’s largest stablecoin issuer, purchased an additional 14 tonnes of gold during the second quarter of 2026, bringing its total holdings to a record 146 tonnes, now worth approximately $18.8 billion.
The purchase follows gold acquisitions of 53 tonnes between Q3 2025 and Q1 2026. Tether’s gold holdings have more than doubled since Q1 2025, while their value has nearly tripled over the same period.
The company is now the largest known private holder of gold outside of central banks and governments. Gold represents roughly 10% of Tether’s $187.8 billion in reserves, underscoring the metal’s growing importance as a strategic asset alongside U.S. Treasuries.
BREAKING: Tether purchased +14 tonnes of gold in Q2 2026, bringing total holdings to a record 146 tonnes, now worth ~$18.8 billion.
— The Kobeissi Letter (@KobeissiLetter) August 6, 2026
This follows gold purchases of +53 tonnes between Q3 2025 and Q1 2026.
Tether’s gold holdings have more than doubled since Q1 2025, while their… pic.twitter.com/iNEnqcztPh
In the first half of 2026, only four central banks bought more gold than Tether: Poland, Uzbekistan, China, and Kazakhstan. Tether is effectively competing with nation‑states for physical bullion after the correction.
The company reported a $1.5 billion profit for Q2 2026. It also held 98,933 BTC as of the reporting date.
While gold’s rejection near $4,300 shows that resistance is real, the scale of Tether’s accumulation is a structural signal. The stablecoin issuer is swapping dollars for bullion at a pace that rivals sovereign buyers. If Tether continues this trajectory, the company’s gold hoard could soon surpass several smaller central banks.
Earlier today we reported that China’s gold-backed ETFs recorded 14 consecutive daily inflows totaling $1.2 billion, as institutional investors rotated heavily back into the metal.
For more gold news and price predictions from CaptainAltcoin, click here.
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