Tether's tokenized gold product, XAUT, is now backed by over 11.6 tons of physical gold, according to a recent report. As of September 30, these reserves, stored in Switzerland, ensure each XAUT token is supported by a fine troy ounce of gold. The market capitalization of XAUT surpassed $2.1 billion in October, driven by gold prices reaching $4,500 due to inflation concerns and geopolitical tensions. Tether CEO Paolo Ardoino highlighted that the increased demand for XAUT is largely fueled by retail investors in emerging markets. This surge in interest reflects a growing trend among investors seeking stable assets amid global economic uncertainties.