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Why Gold Prices Keep Breaking Records 💰

October 13, 2025 / 00:45

This episode discusses the rise in gold prices, focusing on key factors such as Tether's new stable coin, Tether Gold, and central bank rebalancing. It highlights the increasing number of net new buyers, particularly from Tether, and the shift in macro funds' strategies.

The conversation features insights on how Tether is custodying gold for buyers, leading to a rise in trading volumes. The episode also touches on the growing skepticism towards central banks and their policies, prompting investors to seek gold as a safer asset.

Listeners will learn about the mixed reasons behind the gold price increase, including speculation and the impact of new stable coin issuance. The discussion emphasizes the current market dynamics and investor behavior in relation to gold.

TLDR

Gold prices are rising due to Tether's stable coin and central bank rebalancing.

Episode

0:45

00:00:00

Why is gold up? Gold is up because there are many more net new buyers. Who is the

00:00:03

most important net new buyer? It's Tether. Tether has been issuing a stable coin called Tether Gold where they'll

00:00:08

actually custody the gold on your behalf and volumes of it are rising. At the same time, central banks are

00:00:14

rebalancing. And then yet at the same time, you have a lot of macro funds that have essentially decided that central

00:00:18

banks aren't to be trusted and they don't know what to do. And so they're not necessarily long bonds, they're not

00:00:25

necessarily long currencies, and so they're long gold. So, I think it's a mixture of things. There's no panacea

00:00:31

explanation, but if you had to put it into a couple buckets, it's net new speculation, net new stable coin related

00:00:39

issuance, and a loss of confidence in central bank policy around the

Episode Highlights

Tether's Role in Gold
Tether is issuing a stable coin backed by gold, increasing its market presence.
“Tether has been issuing a stable coin called Tether Gold.”
@ 00m 05s
October 13, 2025
Loss of Confidence
Many macro funds are losing faith in central banks, leading to increased gold investments.
“Central banks aren't to be trusted.”
@ 00m 18s
October 13, 2025

Episode Quotes

Central banks aren't to be trusted.
Why Gold Prices Keep Breaking Records 💰
There's no panacea explanation.
Why Gold Prices Keep Breaking Records 💰

Key Moments

Tether Gold00:05
Central Bank Distrust00:18