Tether market price and chart Gold reported that physical bullion reserves backing its gold-linked XAU₮ token reached approximately $3.44 billion at the end of the third quarter of 2026, following a 59% increase in the quantity of gold held since December 2025. The issuer said its reserve inventory represented roughly 25.7 metric tonnes of gold and supported 827,417.63 XAU₮ tokens in circulation.
According to Tether Gold’s November 4 reserves announcement, the reserve balance increased from about 520,089 fine troy ounces at December 31, 2025, to 827,417.63 ounces at September 30, 2026. The dollar valuation rose 53%, from $2.25 billion to approximately $3.44 billion, reflecting changes in both gold quantity and the metal’s quoted price.
Reserves rose to about 25.7 tonnes of physical gold
The issuer reported 2,057 London Good Delivery bars in its Swiss-held reserves, up from 1,291 at the previous year-end. Its inventory disclosure also listed 15 one-kilogram bars and 18 half-kilogram bars. The company said customers had increased their gold-equivalent exposure by more than nine tonnes since the start of the year.
Each full XAU₮ token represents an undivided ownership interest corresponding to one fine troy ounce of physical gold, subject to the terms of the product. Tether said token circulation and the number of reported fine ounces matched at the quarter-end snapshot: 827,417.630000 tokens and 827,417.630 fine ounces.
The stated gold price used for valuation was $4,157.41 per ounce. Gold prices and token prices fluctuate, so the stated $3.44 billion should be treated as a quarter-end valuation rather than a continuously fixed reserve value. The figures come from issuer disclosures and should not be confused with an audit independently performed by BlockBriefing.
Sold tokens differ from available inventory
The issuer reported approximately 709,323.66 XAU₮ tokens sold and another 118,093.97 available for sale at the quarter end. It valued the gold associated with sold tokens at roughly $2.95 billion and the inventory associated with available tokens at approximately $491 million.
This distinction matters when interpreting the headline supply figure. Total minted or circulating units, tokens held for distribution and tokens actually held by outside customers are not necessarily identical measures of investor demand. The company also reported 73% growth in customer holdings since the beginning of 2026.
Tether Gold said its reserves are stored in Switzerland and that a qualified independent third party periodically samples bars to examine refiner-reported information. Readers should review the issuer’s reserve documentation and terms to assess the precise scope of the assurance work and the conditions for redemption.
Tokenized gold offers different risks from bullion custody
Unlike a traditional gold-backed exchange-traded product, XAU₮ is transferable on supported blockchains and depends on its issuing entity, custodian, smart-contract infrastructure and redemption arrangements. Users can therefore face counterparty, operational, wallet-security and liquidity risks alongside exposure to the underlying gold price.
Redemption into physical bars may involve eligibility restrictions, fees, minimum quantities and logistical arrangements. Ownership or transfer of a token should not be interpreted as a guarantee of immediate cash redemption at the latest quoted bullion price.
BlockBriefing has also covered how tokenized traditional assets are growing across other segments of financial markets. Tether Gold’s latest disclosure is another measure of investor activity in that sector, but longer-term adoption will depend on transparent reserves, reliable custody and workable redemption mechanisms.
The verified new development is the issuer’s September-end reserve snapshot, published November 4. Any assessment of reserve adequacy should be tied to the underlying report’s date and scope, rather than assuming that the announced figures describe real-time holdings.
