Tether Gold Market Value Surpasses $2 Billion
Tether Gold (XAU₮), a token backed by physical Gold, passed the $2 billion mark last week. This rise reflects growing interest in tokenized real-world assets (RWAs).
In Q3 2023, Tether Gold’s market value reached $1.44 billion. By late November, it hit $2.1 billion, driven by strong demand and high Gold prices.
TG Commodities, the issuer, reported that as of September 30, it held 375,572 fine troy ounces of physical Gold. There were 522,089 XAU₮ tokens in circulation, with 235,820 tokens sold and around 139,751 tokens still available.
Each XAU₮ token equals one fine troy ounce of Gold stored in Swiss vaults. It meets London Good Delivery standards and is fully compliant with regulations and blockchain technology.
Tether’s CEO, Paolo Ardoino, said, “Tether Gold proves that real-world assets can thrive on-chain without compromise.” He added that rising Gold prices and growing institutional interest make XAU₮ a future-forward asset.
Why Investors Are Choosing Tokenized Gold
Tether Gold offers a liquid, secure way for investors to own Gold digitally. Economic uncertainty, inflation, and geopolitical tensions are driving demand for tokenized assets like XAU₮.
Both retail and institutional investors look to digital Gold as a hedge against falling fiat currencies and volatile cryptocurrencies.
Tether calls its Gold token a reliable and fully backed digital asset that blends traditional value with blockchain’s flexibility.
The trend of tokenizing real-world assets is expanding to include U.S. government bonds, corporate bonds, and real estate.
Gold Price Stays Above $4,000 per Ounce
Gold trades above $4,000 per ounce as of Wednesday, after hitting a record $4,381 on October 20. Recent profit-taking and portfolio adjustments caused a slight pullback.
Technical indicators show mixed signals. The Relative Strength Index (RSI) dropped to 37, indicating weaker buying momentum. However, the MACD suggests a possible price rebound above $4,000.
If Gold maintains support near $4,000, it could rise toward the 100-period Exponential Moving Average at $4,054, supporting a short-term bullish trend.
