Golden age

Bitcoin is supposed to be digital gold, but what happens when a crypto company would prefer to invest in “natural bitcoin?”

In a bizarro-world turn of events, Tether, the world’s largest stablecoin company, held talks with gold miners last week to discuss investing in the gold supply chain. The Financial Times reported that Tether already has $8.7 billion in bullion locked in a vault in Zurich as collateral for its stablecoin, and that this may be a move to increase the company’s exposure to gold.

It’s just the latest bit of good news for gold mining companies. Last Friday, Goldman Sachs investing chief David Kostin proclaimed that gold miners were one of the Wall Street titan’s favorite investments through the rest of 2025. “Our commodity strategists anticipate gold prices will rise by 14% through 2026 due to strong central bank and ETF demand. Gold mining stocks should rally alongside the underlying commodity,” Kostin wrote.

This one-two punch of great headlines helped boost major gold miners across the market today: Harmony Gold Mining rose 3.61%, Gold Fields added 3.64%, and Anglogold Ashanti rallied 4.07%.—MR