Gold prices are flat in early U.S. trading Tuesday. The disappointing sales figures today bolster the arguments of those favoring a dovish U.S. monetary policy stance, who advocate for the Federal Reserve to reduce interest rates expeditiously rather than delaying. Gold is trading at $2320.42, up $1.28. Silver is trading at $29.33, down 14 cents. Tether has launched a new gold-backed stablecoin called Alloy by Tether, created in partnership with Moon Gold NA and Moon Gold El Salvador. The stablecoin aims to combine Tether Gold (XAUt), a digital token backed by physical gold, with the convenience and efficiency of digital currencies, offering investors a secure and stable alternative in the volatile crypto market. Pegged to the U.S. dollar, Alloy represents a significant milestone for asset-backed digital currencies and Tether’s expansion beyond its flagship USDT stablecoin. The launch comes amid waning trust in traditional finance and growing demand for innovative ways to protect wealth, positioning Alloy as a modern approach to asset management appealing to both traditional and crypto investors. Tether Gold (XAUt) currently has a market cap of $572,889,378 with 7667.7 kg under custody. The new Alloy stablecoin on day one has a market cap of $8,020,023.09 with 140.67 kg collateralized.
