4 May 2026 – Tether Gold (XAU₮), the world’s leading tokenized gold product, continued its rapid growth in the first quarter of 2026 as record gold prices and persistent macroeconomic uncertainty strengthened investor demand for safe-haven assets.
The quarter marked a new high for global gold demand by value, as investors continued to seek exposure to gold’s price momentum, scarcity, and role as a hedge against geopolitical and monetary uncertainty. The report reflects a 36% increase in underlying gold reserves quarter over quarter, alongside continued growth in circulating supply and investor demand for direct, fully backed exposure to physical gold during a period defined by elevated macro uncertainty, persistent inflation concerns, and record gold prices.
While gold has long served as a hedge during periods of uncertainty, the scale and speed of inflows into XAU₮ suggest something more structural is underway. Investors are increasingly seeking programmable, liquid access to gold. The growth of XAU₮ reflects a broader re-pricing of gold’s role in modern portfolios, shifting from a passive store of value to an active, fully collateralized financial instrument that can be transferred and settled in real time.
As of 31 March 2026 at 11:59 PM UTC, the Management of TG Commodities, S.A. de C.V., an El Salvador Sociedad Anónima de Capital Variable and a registered Stablecoin Issuer and Digital Asset Service Provider under El Salvador’s Digital Asset Issuance Law, confirms the following:
Key Metrics at the end of Q1 2026
- Total Physical Gold Reserves: 707,747.139 fine troy ounces
- Total XAU₮ Tokens in Circulation: 707,747.090000 XAU₮
- Gold Backing: 1:1, each XAU₮ token is backed by one fine troy ounce of physical gold
- Total Market Value: US$3,303,805,880
- Tokens Sold: 559,598.640000 XAU₮
- Tokens Available for Sale: 148,148.450000 XAU₮
- Fair Market Value of Gold Held for Sold Tokens: US$2,612,240,027
- Fair Market Value of Gold Held for Tokens Available for Sale: US$691,565,853
The gold reserves are held in Switzerland and meet the London Good Delivery standards set by the London Bullion Market Association. The reserves are held by the custodian on behalf of XAU₮ token holders, and the gold reserves are owned by XAU₮ token holders, not by the Company.
At the end of 2025, XAU₮ was backed by 520,089.350 fine troy ounces of physical gold. By 31 March 2026, the reserve total was 707,747.139 fine troy ounces. The market value also rose from approximately US$2.25 billion to more than US$3.3 billion, and the number of tokens sold reached 559,598.640000 XAU₮. The numbers show a larger base of physical gold backing XAU₮ at a time when more investors are seeking direct gold exposure in digital form.
“Tether Gold is proving that tokenized commodities can operate with the same seriousness, scale, and reserve discipline expected from major institutional holdings,” said Paolo Ardoino, CEO of Tether. “Gold has always been a trusted asset during periods of uncertainty, but XAU₮ gives it a new form of utility. It allows people and institutions to hold direct exposure to physical gold while benefiting from the transparency, portability, and accessibility of blockchain-based assets. The growth we saw in the first quarter shows that demand for real, verifiable, tokenized reserves is only getting stronger.”
XAU₮ tokens are issued only after the corresponding physical gold bars have completed the custodian’s intake procedure. Each token represents ownership of one fine troy ounce of physical gold on specified gold bars. Every quarter, a sample of the physical gold bars held in reserve is subject to confirmatory testing by a qualified and independent third party.
Tether Gold remains at the forefront of the tokenized real-world asset market through strict 1:1 physical backing, Swiss-vaulted reserves, regulated issuance under El Salvador’s Digital Asset Issuance Law, and on-chain transparency. As digital asset markets continue to mature, XAU₮ provides investors with exposure to physical gold ownership while preserving liquidity, portability, and verifiability.
For further details, please refer to the latest XAU₮ reserves report here.
About Tether Gold (XAU₮)
Tether Gold (XAU₮) is a digital asset offered by TG Commodities, S.A. de C.V. One full XAU₮ token represents one troy fine ounce of gold on a London Good Delivery bar. The token can be traded or moved easily at any time, anywhere in the world, and can be transferred to any on-chain address. The allocated gold is identifiable with a unique serial number, purity, and weight, and is redeemable in the form of physical gold.
Important Note:
This press announcement is not an offer to sell or the solicitation of an offer to buy Tether Gold (XAU₮). TG Commodities, S.A de C.V. will only sell or redeem XAU₮ pursuant to its gold token terms of sale and service available (as of the date of this press release) at https://gold.tether.to/legal
