China accelerating gold buys, even through the war. And Tether is trying gold-backed crypto.
**Bullets:**
The war on Iran has caused severe liquidity problems at the world's central banks, who were forced to sell off gold reserves to buy energy.
But in China, gold buying accelerated in March and April. Further, China's government announced aggressive expansions of domestic and foreign gold mining.
The global race to build up gold reserves is primarily driven by breaking free of Western banking systems, in which even sovereign reserves held in custody can be frozen or seized.
China's gold buying has another dimension, however. Gold is critical as a component in advanced manufacturing, and China is locking up supply chains for the raw materials that will power the rest of the century.
Inside China / Business is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
**Report:**
Good morning.
China is the world’s top gold mining country, with production in 2024 of 380 metric tons. [China is also the world’s most aggressive buyer of gold](https://www.visualcapitalist.com/ranked-central-banks-buying-and-selling-gold-in-2026/). Since 2020, the gold holdings at China’s central bank increased by 357 tons. Since that time, the price of gold, in US dollars, has more than tripled, up over 3.6 times.
And China’s central bank was unique, in that [they increased their buys of gold in foreign markets during the month of March](https://www.chinadaily.com.cn/a/202604/07/WS69d4ce4ea310d6866eb420aa.html). Gold prices fell in March – by 12% -- because of the war on Iran, and it was the worst month for gold in almost twenty years. But the PBOC increased their gold holdings by five tons. At that time, that was 17 months in a row of net buying of gold by the Chinese central bank.
---
Gold is the ultimate safe haven, and especially during a time when dollar-denominated assets can be frozen or seized or sanctioned. China and many other governments now are reducing their exposure to dollars, and so they trade the dollars -- earned by trade -- for gold, [which is hauled back to vaults in friendly jurisdictions](https://www.youtube.com/watch?v=JGju7kpyPM0).
Then came April, and even [more gold buying from China’s central bank.](https://www.gold.org/goldhub/gold-focus/2026/05/china-gold-market-update-notable-rise-gold-reserves) The PBOC bought 8 tons for the month, and that is an acceleration from periods prior. It was the highest addition in over a year:
[](https://substackcdn.com/image/fetch/$s_!v0rP!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F082aa456-b12b-4c16-8d4d-0d3ad0aedef2_936x574.png)
That big spike in March – month 3 of 2026 -- may have been China taking advantage of gold’s falling price to buy more. But in April gold prices were basically unchanged, and China increased their purchases even faster. And most of that increase is from gold imports, not from increased domestic production:
[](https://substackcdn.com/image/fetch/$s_!Xhqw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F035498cc-e50e-48d0-8205-f56375be890e_936x608.png)
---
[](https://substackcdn.com/image/fetch/$s_!OTkj!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F790f4576-e1a0-4efd-8972-08c5066a0f70_624x199.png)
This is a profound quote, there. Central banks literally print money. It’s their job to manage the supply of their own fiat currencies, and ensure that their FX reserves are sufficient to buy and sell with other countries, who are using other currencies.
And most of the world’s central banks have concluded that they do not need more dollars, or more of their own fiat, but they do need more gold. In the case of the war on Iran, countries that needed to raise cash fast to import more energy could dump some of their gold holdings. China is not in that position—they have not had to run down their oil reserves, and instead of dumping gold to buy energy, they’ve been dumping dollars to buy more gold. That’s what those big spikes in March and April mean, on the charts above.
---
[Then there’s this.](https://x.com/GlobalMktObserv/status/2056032495921922447) We reported recently on [Tether, and its huge ‘own goal’ that made USDT useless](https://www.youtube.com/watch?v=lS0Skv0iKYg) as a tool to anyone who is trying to operate outside US banking systems.
But Tether’s gold buying is quietly putting another floor under prices during the War on Iran. In the first quarter of 2026, [Tether bought 6.5 tons of gold](https://www.blanchardgold.com/market-news/crypto-firm-tether-buys-1-2-tons-of-gold-per-week/) and now holds 132 tons.
[](https://substackcdn.com/image/fetch/$s_!0E3J!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd2efaa50-e2f3-4708-82df-a6a1578e0fb1_624x416.jpeg)
Over the past year and a half, Tether’s gold holdings grew by 73 tons, which is more than the People’s Bank of China’s buys during that time. Tether’s gold holdings more than doubled in 12 months, and last year bought more gold than any other country’s bank except Poland.
[](https://substackcdn.com/image/fetch/$s_!ZtFr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F741e5ee7-116c-468f-b7f9-a73df5552358_624x702.jpeg)
Tether now shows up at #31 on this list of the top 100. Surprisingly Tether has more gold than the central banks in Mexico, or South Korea, or Australia. Tether’s gold reserves are stored in Switzerland, and the CEO notes there that gold-backed alternatives to the US dollar are coming, and implies that if Tether is going to operate in those markets, they’ll need a lot of gold to offer their stablecoins in countries that are completely off of dollars:
[](https://substackcdn.com/image/fetch/$s_!3GMW!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F702eca40-67d0-48b4-877a-917f4ddf7bc3_936x208.png)
Remembering what we concluded earlier: that strategy might work for small transactions, at the household or small business level in the BRICS and global south countries, but not for clearing of trades for large businesses and institutions. And forget it for state-owned enterprises anywhere that’s not in North America or Western Europe.
We’ve learned that [Tether works hand-in-glove with the Treasury department](https://www.binance.com/en/square/post/318759455947378), and funds in a Tether wallet can be frozen or seized, even when held at a foreign central bank itself. [Tether even issued their own press release](https://tether.io/news/tether-supports-freeze-of-more-than-344-million-in-usdt-in-coordination-with-ofac-and-u-s-law-enforcement/) about it.
So it is true what Tether’s CEO says, that “Gold is logically safer than any national currency”, but that doesn’t mean that Tether stablecoins backed by gold are safe.
But Tether is nevertheless buying a lot of it, with that in mind—they hope to be a vehicle for this trade in the part of the world where users hate going through SWIFT banks.
---
Back to China, who has also announced plans to [dramatically increase their own production of gold over the next five years.](https://www.scmp.com/economy/china-economy/article/3342532/china-eyes-gold-production-surge-amid-de-dollarisation-drive-aiming-hedge-global-risks) Again, to “bolster self-sufficiency” in a global shift away from the US dollar.”
This proposal to upgrade China’s gold mining and smelting industries comes from the China Gold Association, and it’s in the newest 5-year plan. That means it is official policy, a national objective, to “develop deep-shaft mining” below 2,000 meters, and design and build more advanced equipment.
Recall that China is already the world’s top miner, and last year—2025—domestic gold output rose again, by about one percent over 2024. But [China’s production from overseas mines jumped by 25 percent year over year.](https://global.chinadaily.com.cn/a/202602/05/WS698410d8a310d6866eb37a79.html)
---
China then has made gold mining, both here in China and abroad, a national security objective, even though China’s goals to achieve self-sufficiency in gold seem to be already met.
There’s more to this, then, than simply their need to get away from the US dollar in their trading systems. China is the world’s largest manufacturing economy, and [modern manufacturing uses a lot of gold.](https://arabartmetal.com/industrial-uses-of-gold-plating-you-probably-didnt-know/)
Gold is a strong conductor of electricity, and doesn’t rust or corrode. That makes gold critical in electronics and telecommunications. Gold plating enhances signal transmission, so is used for building circuit boards, semiconductors, electrical switches, and smartphones.
Gold is also stable at high temperatures and under stress and is used across aerospace and defense industries. Satellites, radars, and avionics.
It’s also in medicine and biotechnology. Gold does not react with bodily fluids and is used in pacemakers and other devices that are implanted. Dental equipment, surgical tools—these surfaces are electroplated with gold before touching patients.
In automotive, first thought is flashy trim and expensive touches. But gold is used in cars’ electronics.
Gold is also reflective and non-reactive, which makes it ideal for scientific research applications—microscopes, lasers, spectroscopy equipment.
It is also a [key component in renewable energy technologies](https://esgold.com/the-role-of-precious-metals-in-the-green-transition/), along with silver and platinum, which by the way are two other metals that China is scooping up from everywhere they can be found. Gold improves the efficiency of energy transmission, so they’re commonly used in solar power, and in the manufacture of wind turbines.
These are all broad industrial sectors—electronics, telecommunications, defense, aerospace, radars, satellites, medicine, new energy. And the supply chains for all this equipment run through gold mines across the world.
So this is another example of how those supply chains that make modern life even possible, and which will power the technologies of the rest of this century, run through China, and countries friendly with China in the Global Majority countries.
This is mainly a de-dollarization story, and the world’s central banks getting away from even their own fiat currencies to buy gold. But for China it’s also an industrial supply chain story.
Be Good.
**Resources and links:**
Tether and US stablecoins are dead. Just Bitcoin, Gold, and CBDC remain.
Ranked: Central Banks Buying and Selling Gold in 2026
https://www.visualcapitalist.com/ranked-central-banks-buying-and-selling-gold-in-2026/
US assets and gold are being sold offshore as the world scrambles to afford higher oil prices
https://www.msn.com/en-us/money/markets/us-assets-and-gold-are-being-sold-offshore-as-the-world-scrambles-to-afford-higher-oil-prices/ar-AA20kDGS
Crypto Firm Tether Buys 1-2 Tons of Gold Per Week
https://www.blanchardgold.com/market-news/crypto-firm-tether-buys-1-2-tons-of-gold-per-week/
Bloomberg, China Ramps Up Gold Buying as Middle East War Dents Prices
https://www.bloomberg.com/news/articles/2026-04-07/china-s-pboc-keeps-up-gold-buying-spree-as-iran-war-dents-prices
Gold Prices Dip, but China's Central Bank Continues 17-Month Gold Buying Streak
https://www.asiae.co.kr/en/article/world-general/2026040816155954995.
China extends gold buying streak in March despite price decline
https://www.chinadaily.com.cn/a/202604/07/WS69d4ce4ea310d6866eb420aa.html
China's gold output up 1.09% in 2025 amid shift to investment-grade assets
https://global.chinadaily.com.cn/a/202602/05/WS698410d8a310d6866eb37a79.html
China eyes gold production surge amid de-dollarisation drive, aiming to hedge global risks
https://www.scmp.com/economy/china-economy/article/3342532/china-eyes-gold-production-surge-amid-de-dollarisation-drive-aiming-hedge-global-risks
Top Gold Producing Countries (2024)
https://www.voronoiapp.com/wealth/-Top-Gold-Producing-Countries-2024-4501
Ranked: The Countries Buying (and Selling) the Most Gold Since 2020
https://www.visualcapitalist.com/ranked-the-countries-buying-and-selling-the-most-gold-since-2020/
China gold market update: A notable rise in gold reserves
https://www.gold.org/goldhub/gold-focus/2026/05/china-gold-market-update-notable-rise-gold-reserves
Tether is accumulating gold at a pace that rivals central banks:
Gold Plating in Industry: Unexpected Yet Essential Uses
https://arabartmetal.com/industrial-uses-of-gold-plating-you-probably-didnt-know/
The Role of Precious Metals in the Green Transition
https://esgold.com/the-role-of-precious-metals-in-the-green-transition/
China wants custody of the world's gold: great news for gold bulls, bad news for the US dollar
Tether Supports Freeze of More Than $344 Million in USD₮ in Coordination with OFAC and U.S. Law Enforcement
https://tether.io/news/tether-supports-freeze-of-more-than-344-million-in-usdt-in-coordination-with-ofac-and-u-s-law-enforcement/
OFAC Updates Central Bank of Iran Designation Following Record $344 Million Tether Seizure amid Strait of Hormuz Toll Controversy
https://www.chainalysis.com/blog/central-bank-of-iran-designation-ofac-update-april-2026/
Bessent says US seized nearly $500M in Iranian crypto as Operation Economic Fury sends regime into ‘crisis’
https://www.foxbusiness.com/media/bessent-says-us-seized-nearly-500m-iranian-crypto-operation-economic-fury-sends-regime-crisis
The US just seized $344 million in crypto from Iran — and it's a preview of how sanctions warfare works in 2026
https://www.binance.com/en/square/post/318759455947378
Inside China / Business is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
---
**From [Inside China / Business](https://kdwalmsley.substack.com/feed) via [This RSS Feed](https://kdwalmsley.substack.com/feed).**
The war on Iran has caused severe liquidity problems at the world's central banks, who were forced to sell off gold reserves to buy energy.
But in China, gold buying accelerated in March and April. Further, China's government announced aggressive expansions of domestic and foreign gold mining.
The global race to build up gold reserves is primarily driven by breaking free of Western banking systems, in which even sovereign reserves held in custody can be frozen or seized.
China's gold buying has another dimension, however. Gold is critical as a component in advanced manufacturing, and China is locking up supply chains for the raw materials that will power the rest of the century.
Inside China / Business is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
**Report:**
Good morning.
China is the world’s top gold mining country, with production in 2024 of 380 metric tons. [China is also the world’s most aggressive buyer of gold](https://www.visualcapitalist.com/ranked-central-banks-buying-and-selling-gold-in-2026/). Since 2020, the gold holdings at China’s central bank increased by 357 tons. Since that time, the price of gold, in US dollars, has more than tripled, up over 3.6 times.
And China’s central bank was unique, in that [they increased their buys of gold in foreign markets during the month of March](https://www.chinadaily.com.cn/a/202604/07/WS69d4ce4ea310d6866eb420aa.html). Gold prices fell in March – by 12% -- because of the war on Iran, and it was the worst month for gold in almost twenty years. But the PBOC increased their gold holdings by five tons. At that time, that was 17 months in a row of net buying of gold by the Chinese central bank.
---
Gold is the ultimate safe haven, and especially during a time when dollar-denominated assets can be frozen or seized or sanctioned. China and many other governments now are reducing their exposure to dollars, and so they trade the dollars -- earned by trade -- for gold, [which is hauled back to vaults in friendly jurisdictions](https://www.youtube.com/watch?v=JGju7kpyPM0).
Then came April, and even [more gold buying from China’s central bank.](https://www.gold.org/goldhub/gold-focus/2026/05/china-gold-market-update-notable-rise-gold-reserves) The PBOC bought 8 tons for the month, and that is an acceleration from periods prior. It was the highest addition in over a year:
[](https://substackcdn.com/image/fetch/$s_!v0rP!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F082aa456-b12b-4c16-8d4d-0d3ad0aedef2_936x574.png)
That big spike in March – month 3 of 2026 -- may have been China taking advantage of gold’s falling price to buy more. But in April gold prices were basically unchanged, and China increased their purchases even faster. And most of that increase is from gold imports, not from increased domestic production:
[](https://substackcdn.com/image/fetch/$s_!Xhqw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F035498cc-e50e-48d0-8205-f56375be890e_936x608.png)
---
[](https://substackcdn.com/image/fetch/$s_!OTkj!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F790f4576-e1a0-4efd-8972-08c5066a0f70_624x199.png)
This is a profound quote, there. Central banks literally print money. It’s their job to manage the supply of their own fiat currencies, and ensure that their FX reserves are sufficient to buy and sell with other countries, who are using other currencies.
And most of the world’s central banks have concluded that they do not need more dollars, or more of their own fiat, but they do need more gold. In the case of the war on Iran, countries that needed to raise cash fast to import more energy could dump some of their gold holdings. China is not in that position—they have not had to run down their oil reserves, and instead of dumping gold to buy energy, they’ve been dumping dollars to buy more gold. That’s what those big spikes in March and April mean, on the charts above.
---
[Then there’s this.](https://x.com/GlobalMktObserv/status/2056032495921922447) We reported recently on [Tether, and its huge ‘own goal’ that made USDT useless](https://www.youtube.com/watch?v=lS0Skv0iKYg) as a tool to anyone who is trying to operate outside US banking systems.
But Tether’s gold buying is quietly putting another floor under prices during the War on Iran. In the first quarter of 2026, [Tether bought 6.5 tons of gold](https://www.blanchardgold.com/market-news/crypto-firm-tether-buys-1-2-tons-of-gold-per-week/) and now holds 132 tons.
[](https://substackcdn.com/image/fetch/$s_!0E3J!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd2efaa50-e2f3-4708-82df-a6a1578e0fb1_624x416.jpeg)
Over the past year and a half, Tether’s gold holdings grew by 73 tons, which is more than the People’s Bank of China’s buys during that time. Tether’s gold holdings more than doubled in 12 months, and last year bought more gold than any other country’s bank except Poland.
[](https://substackcdn.com/image/fetch/$s_!ZtFr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F741e5ee7-116c-468f-b7f9-a73df5552358_624x702.jpeg)
Tether now shows up at #31 on this list of the top 100. Surprisingly Tether has more gold than the central banks in Mexico, or South Korea, or Australia. Tether’s gold reserves are stored in Switzerland, and the CEO notes there that gold-backed alternatives to the US dollar are coming, and implies that if Tether is going to operate in those markets, they’ll need a lot of gold to offer their stablecoins in countries that are completely off of dollars:
[](https://substackcdn.com/image/fetch/$s_!3GMW!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F702eca40-67d0-48b4-877a-917f4ddf7bc3_936x208.png)
Remembering what we concluded earlier: that strategy might work for small transactions, at the household or small business level in the BRICS and global south countries, but not for clearing of trades for large businesses and institutions. And forget it for state-owned enterprises anywhere that’s not in North America or Western Europe.
We’ve learned that [Tether works hand-in-glove with the Treasury department](https://www.binance.com/en/square/post/318759455947378), and funds in a Tether wallet can be frozen or seized, even when held at a foreign central bank itself. [Tether even issued their own press release](https://tether.io/news/tether-supports-freeze-of-more-than-344-million-in-usdt-in-coordination-with-ofac-and-u-s-law-enforcement/) about it.
So it is true what Tether’s CEO says, that “Gold is logically safer than any national currency”, but that doesn’t mean that Tether stablecoins backed by gold are safe.
But Tether is nevertheless buying a lot of it, with that in mind—they hope to be a vehicle for this trade in the part of the world where users hate going through SWIFT banks.
---
Back to China, who has also announced plans to [dramatically increase their own production of gold over the next five years.](https://www.scmp.com/economy/china-economy/article/3342532/china-eyes-gold-production-surge-amid-de-dollarisation-drive-aiming-hedge-global-risks) Again, to “bolster self-sufficiency” in a global shift away from the US dollar.”
This proposal to upgrade China’s gold mining and smelting industries comes from the China Gold Association, and it’s in the newest 5-year plan. That means it is official policy, a national objective, to “develop deep-shaft mining” below 2,000 meters, and design and build more advanced equipment.
Recall that China is already the world’s top miner, and last year—2025—domestic gold output rose again, by about one percent over 2024. But [China’s production from overseas mines jumped by 25 percent year over year.](https://global.chinadaily.com.cn/a/202602/05/WS698410d8a310d6866eb37a79.html)
---
China then has made gold mining, both here in China and abroad, a national security objective, even though China’s goals to achieve self-sufficiency in gold seem to be already met.
There’s more to this, then, than simply their need to get away from the US dollar in their trading systems. China is the world’s largest manufacturing economy, and [modern manufacturing uses a lot of gold.](https://arabartmetal.com/industrial-uses-of-gold-plating-you-probably-didnt-know/)
Gold is a strong conductor of electricity, and doesn’t rust or corrode. That makes gold critical in electronics and telecommunications. Gold plating enhances signal transmission, so is used for building circuit boards, semiconductors, electrical switches, and smartphones.
Gold is also stable at high temperatures and under stress and is used across aerospace and defense industries. Satellites, radars, and avionics.
It’s also in medicine and biotechnology. Gold does not react with bodily fluids and is used in pacemakers and other devices that are implanted. Dental equipment, surgical tools—these surfaces are electroplated with gold before touching patients.
In automotive, first thought is flashy trim and expensive touches. But gold is used in cars’ electronics.
Gold is also reflective and non-reactive, which makes it ideal for scientific research applications—microscopes, lasers, spectroscopy equipment.
It is also a [key component in renewable energy technologies](https://esgold.com/the-role-of-precious-metals-in-the-green-transition/), along with silver and platinum, which by the way are two other metals that China is scooping up from everywhere they can be found. Gold improves the efficiency of energy transmission, so they’re commonly used in solar power, and in the manufacture of wind turbines.
These are all broad industrial sectors—electronics, telecommunications, defense, aerospace, radars, satellites, medicine, new energy. And the supply chains for all this equipment run through gold mines across the world.
So this is another example of how those supply chains that make modern life even possible, and which will power the technologies of the rest of this century, run through China, and countries friendly with China in the Global Majority countries.
This is mainly a de-dollarization story, and the world’s central banks getting away from even their own fiat currencies to buy gold. But for China it’s also an industrial supply chain story.
Be Good.
**Resources and links:**
Tether and US stablecoins are dead. Just Bitcoin, Gold, and CBDC remain.
Ranked: Central Banks Buying and Selling Gold in 2026
https://www.visualcapitalist.com/ranked-central-banks-buying-and-selling-gold-in-2026/
US assets and gold are being sold offshore as the world scrambles to afford higher oil prices
https://www.msn.com/en-us/money/markets/us-assets-and-gold-are-being-sold-offshore-as-the-world-scrambles-to-afford-higher-oil-prices/ar-AA20kDGS
Crypto Firm Tether Buys 1-2 Tons of Gold Per Week
https://www.blanchardgold.com/market-news/crypto-firm-tether-buys-1-2-tons-of-gold-per-week/
Bloomberg, China Ramps Up Gold Buying as Middle East War Dents Prices
https://www.bloomberg.com/news/articles/2026-04-07/china-s-pboc-keeps-up-gold-buying-spree-as-iran-war-dents-prices
Gold Prices Dip, but China's Central Bank Continues 17-Month Gold Buying Streak
https://www.asiae.co.kr/en/article/world-general/2026040816155954995.
China extends gold buying streak in March despite price decline
https://www.chinadaily.com.cn/a/202604/07/WS69d4ce4ea310d6866eb420aa.html
China's gold output up 1.09% in 2025 amid shift to investment-grade assets
https://global.chinadaily.com.cn/a/202602/05/WS698410d8a310d6866eb37a79.html
China eyes gold production surge amid de-dollarisation drive, aiming to hedge global risks
https://www.scmp.com/economy/china-economy/article/3342532/china-eyes-gold-production-surge-amid-de-dollarisation-drive-aiming-hedge-global-risks
Top Gold Producing Countries (2024)
https://www.voronoiapp.com/wealth/-Top-Gold-Producing-Countries-2024-4501
Ranked: The Countries Buying (and Selling) the Most Gold Since 2020
https://www.visualcapitalist.com/ranked-the-countries-buying-and-selling-the-most-gold-since-2020/
China gold market update: A notable rise in gold reserves
https://www.gold.org/goldhub/gold-focus/2026/05/china-gold-market-update-notable-rise-gold-reserves
Tether is accumulating gold at a pace that rivals central banks:
Gold Plating in Industry: Unexpected Yet Essential Uses
https://arabartmetal.com/industrial-uses-of-gold-plating-you-probably-didnt-know/
The Role of Precious Metals in the Green Transition
https://esgold.com/the-role-of-precious-metals-in-the-green-transition/
China wants custody of the world's gold: great news for gold bulls, bad news for the US dollar
Tether Supports Freeze of More Than $344 Million in USD₮ in Coordination with OFAC and U.S. Law Enforcement
https://tether.io/news/tether-supports-freeze-of-more-than-344-million-in-usdt-in-coordination-with-ofac-and-u-s-law-enforcement/
OFAC Updates Central Bank of Iran Designation Following Record $344 Million Tether Seizure amid Strait of Hormuz Toll Controversy
https://www.chainalysis.com/blog/central-bank-of-iran-designation-ofac-update-april-2026/
Bessent says US seized nearly $500M in Iranian crypto as Operation Economic Fury sends regime into ‘crisis’
https://www.foxbusiness.com/media/bessent-says-us-seized-nearly-500m-iranian-crypto-operation-economic-fury-sends-regime-crisis
The US just seized $344 million in crypto from Iran — and it's a preview of how sanctions warfare works in 2026
https://www.binance.com/en/square/post/318759455947378
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