Key takeaways
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Tether purchased 26 tons of gold in Q3 2025, a larger quarterly acquisition than any reporting central bank. Its total holdings reached 116 tons, placing it among the world’s top 30 gold holders.
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Stablecoin issuers, sovereign wealth funds, corporations and tech firms are increasingly active in gold markets. This trend marks a structural shift in global demand once dominated by central banks.
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Central banks added 220 tons of gold in Q3 2025, up 28% from Q2. Countries such as Kazakhstan, Brazil, Turkey and Guatemala made notable additions…

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