A Crypto Company Is Now One of the World’s Biggest Gold Buyers and Here’s Why

TLDR

• Tether bought over 27 metric tons of gold in the first half of 2026, matching Kazakhstan’s central bank purchases
• Gold rose 0.7% to around $4,400 an ounce ahead of the U.S. CPI inflation report
• Jefferies analysts say Tether is now “a meaningful source of incremental physical gold demand”
• China’s central bank bought gold for a 21st straight month in July, adding around 640,000 troy ounces
• Gold faces key resistance near $4,460 to $4,495, with $5,000 seen as the next major target if those levels break

Gold is rising, and two of the biggest reasons are a crypto company and the Chinese central bank.

Tether, the company behind the USDT stablecoin, bought more than 27 metric tons of gold in the first half of 2026. That puts it on par with Kazakhstan and behind only Poland, Uzbekistan, and China among major buyers this year.

🔥Tether has quietly become one of the world's largest gold buyers:

Tether's gold reserves have increased by ~85 metric tons since Q1 2025, a larger increase than those of Uzbekistan, China, Brazil, or Kazakhstan.

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