Jefferies: Tether's gold holdings have appreciated by over $5 billion

According to the Financial Times, as gold prices have reached record highs, the gold held by Tether has appreciated by over $5 billion. Based on estimates from Jefferies Group using data disclosed by Tether, as of the end of September, Tether held approximately 116 tons of gold, which was valued at about $14.4 billion at that time. Last September, the gold price was $3,858 per ounce, but amid rising geopolitical uncertainties and an influx of investors into safe-haven assets, it has now soared to over $5,200, indicating that Tether has realized over $5 billion in appreciation on this portion of its holdings.