Palladium emerged as the best performing precious metal for the week with a 3.27% gain, while Tether purchased six tons of gold in the first quarter of 2026 according to Scotia. The stablecoin issuer's Q1 2026 purchase was lower than the 27 tons acquired in the fourth quarter of 2025, bringing Tether's total gold holdings to the equivalent of 132 tons. Central banks continue driving precious metals demand, with 45% of 74 surveyed institutions indicating plans to increase gold reserves in the coming year according to World Gold Council and YouGov Plc data.
Palladium Leads Weekly Precious Metals Performance
Palladium posted a 3.27% gain for the week, outperforming other precious metals. Palladium-backed ETFs added 4,411 troy ounces in the latest session. Platinum was the worst performing precious metal for the week, still recording a 1.97% gain. Platinum's spot price more than doubled in 2025 on precious metal and industrial demand.
Tether Purchases Six Tons of Gold in First Quarter of 2026
Tether purchased six tons of gold in the first quarter of 2026, according to Scotia. The purchase was lower than the 27 tons acquired in the fourth quarter of 2025. Tether's gold holdings are equivalent to 132 tons. Including Tether's XAUT gold token at 22 tons, Tether's combined gold holdings are estimated at 154 tons, placing it among the top 20 official holders according to Scotia.
Aya Gold & Silver Joins VanEck Gold Miners ETF
Aya Gold & Silver was added to the VanEck Gold Miners ETF (GDX), effective June 19. The company continues to advance its strategy around its Boumadine polymetallic project in Morocco alongside its existing Zgounder silver mine.
Bolivia Delivers 4.3 Tons Under Gold Forward Sales Program
Bolivia's central bank fulfilled the first delivery under its gold forward sales program on Monday, transferring 4.3 tons of gold according to a statement. The delivery corresponds to a transaction arranged in June 2025 by the previous administration as part of a broader agreement to sell 6.6 tons of gold forward to raise cash amid a shortage of foreign currency, reports Bloomberg.
Silvercorp Reports 50% Increase in Mineral Reserves
Silvercorp reported an updated technical report for the Ying Mining District, highlighted by a 50% increase in mineral reserve tons and a 20% increase in contained silver to 106 million ounces. The update includes a 90% increase in resource tons at lower average grade due to lower cut-off grades. The company outlined a 17-year mine life to 2042, with production growth from higher throughput and further upside potential from resource conversion and exploration, according to BMO.
Central Banks Plan Gold Reserve Increases
In a survey of 74 central banks, 45% said they plan to buy gold in the coming year, the biggest-ever share in data collected by the World Gold Council and YouGov Plc since 2018. Scotia expects central banks to remain active net buyers in 2026, with estimated purchases of 650 tonnes.
Global Gold Production Totals 3,817 Tons in 2025
Global gold production in 2025 totaled 3,817 tons, a 2.0% year-on-year increase according to World Gold Council data. The growth can be attributed to production increases in Ghana (+32.6 tons), Russia (+15.0 tons), and Canada (+10.5 tons), partially offset by material declines in Indonesia (-34.4 tons), the United States (-6.0 tons), and Mexico (-4.0 tons). China remained the top global gold producing country with 384 tons of gold production in 2025.
Zijin's Allied Gold Acquisition Stalled in Beijing
Zijin's planned $4 billion all-cash acquisition of Allied Gold has cleared host-country regulators but is stalled in Beijing, where Chinese authorities are reportedly questioning the price and political risk of the assets.
FAQ
How much gold did Tether purchase in the first quarter of 2026?
Tether purchased six tons of gold in the first quarter of 2026 according to Scotia. This was lower than the 27 tons the company acquired in the fourth quarter of 2025. Tether's total gold holdings are equivalent to 132 tons, or 154 tons when including the company's XAUT gold token.
What percentage of central banks plan to increase gold reserves?
In a survey of 74 central banks conducted by the World Gold Council and YouGov Plc, 45% said they plan to buy gold in the coming year. This represents the biggest-ever share in data collected since 2018. Scotia expects central banks to purchase an estimated 650 tonnes in 2026.
What was global gold production in 2025?
Global gold production in 2025 totaled 3,817 tons, representing a 2.0% year-on-year increase according to World Gold Council data. China remained the top global gold producing country with 384 tons of production in 2025.
