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China and Tether ramp up gold buying with 173 tons and 146 tons respectively, as central banks increase purchases by 62% to a record 289 tons, with gold prices
China and Tether, a stablecoin issuer, have increased their gold accumulation, with China's imports rising to 173 tons in June, the highest since March 2024, and Tether holding a stockpile of 146 tons, valued at $18.8 billion [1]. This move comes as central banks have increased their gold purchases by 62% to a record 289 tons in the second quarter, with Poland's central bank buying 51 tons and the People's Bank of China adding 33 tons [1].
| At a glance | |
|---|---|
| China's gold imports | 173 tons |
| Tether's gold stockpile | 146 tons |
| Central banks' gold purchases | 289 tons |
| Gold price | $4,000 per ounce |
The increase in gold accumulation by China and Tether can be attributed to the decline in gold prices from record highs of nearly $5,600 per ounce to below $4,000 per ounce [1]. This has led to a surge in demand from official buyers, with central banks increasing their purchases by 62% to a record 289 tons in the second quarter [1]. According to Louise Street, senior markets analyst at the World Gold Council, "central banks will remain significant buyers, albeit at a slightly slower pace than we've seen over the last four years" [1].
Tether's move to increase its gold stockpile is seen as a strategic move to acquire hard assets, similar to the tactics used by asset strippers in the 1970s [2]. This approach is different from that of Circle, another stablecoin issuer, which has taken a more cautious approach to freezing customer funds during active heists [3]. Tether's CEO, Paolo Ardoino, has stated that the company will continue to support the U.S. government in freezing funds linked to sanctions evasion [3].
The increase in gold accumulation by China and Tether, along with the surge in demand from central banks, has significant implications for the global gold market. As the World Gold Council notes, mine production has risen 2% year-over-year, reaching 966 metric tons in the second quarter, but costs are also rising, with all-in sustaining costs climbing to a record $1,785 an ounce [1]. The real significance of this move lies in its potential to impact the global economic and monetary order, as cryptocurrencies and traditional assets continue to intersect.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Aug 6, 2026 · How we report
Tether reported holding 146 tons of physical gold at the end of Q2 2026, valued at approximately $18.8 billion.
Gold fell 14.1% in the quarter, closing around $4,008 per ounce, marking its worst quarterly performance since 2013.
Yes, demand for Tether Gold rose 9.5% in Q2, with holdings increasing by 14 tons and the number of token holders growing 6.5%.