Tether Gold (XAUT)'s gold reserves in Q1 exceeded 154 tons (approximately $3.3 billion) as investor demand for gold increased due to macroeconomic uncertainty caused by the Iran war. According to Cointelegraph, this represents a 36% increase from the previous quarter. As of the end of the quarter, 707,741 XAUT tokens are in circulation, and each token is backed by 1 troy ounce of physical gold held in reserve.
