
Tether Gold (CRYPTO:XAUT) physical reserves increased 9.5% in Q2 as demand continued despite falling gold prices.
Gold fell 14.1% during the quarter, marking its weakest quarterly performance since the second quarter of 2013.
“Holders of Tether Gold are not only buying XAUt when the price of gold is rising,” said Tether CEO Paolo Ardoino.
Tokenised commodities fell 4.2% to US$4.58 billion over 30 days, while holder numbers rose 6.5% to 253,000.
Tether said the reserve increase showed customers continued adding tokenised gold exposure during the quarterly price decline.
XAUT reserves had increased 36% in Q1 to 707,747 fine troy ounces, valued at US$3.3 billion.
XAUT also received Shariah certification in July, while its total distributed value stood at US$2.4 billion on Monday.
Tether Gold (CRYPTO:XAUT) has been recognised as an accepted spot commodity within Abu Dhabi Global Market, expanding its use in the regulated financial centre.