According to the report from Jefferies, Tether has emerged as a major gold buyer, contributing to rising prices by acquiring significant amounts of the metal. This change indicates a shift away from traditional gold price determinants.
Tether plans to buy around 100 tons of gold by 2025. Currently, it holds approximately 116 tons, with 12 tons backing its XAUt token. The firm forecasts a notable increase in gold demand driven by its anticipated profits and investment strategies.
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