Tether Gold Price · XAUT/USD · Per Token (1 troy oz)

The gauge is the most XAUT-specific feature on this page, nothing like it exists on a standard gold price site. It measures the live spread between XAUT's Binance market price and the XAU spot reference (Binance XAUUSDT), displayed both in dollar terms and as a percentage. The needle sits at centre (par) when they match and travels toward whichever edge the spread is running to, right for a premium and left for a discount. The pale centre band marks the ±0.3% window the spread normally keeps to, and the track deepens in amber toward both edges because either extreme is unusual for a token built to track spot, not because one of them is the good outcome. The range is clamped at ±1% to keep the visual meaningful, moves beyond that are extremely rare and usually signal a temporary liquidity event. To read the spot leg on its own, with candlesticks and indicators, use the XAU/USD chart.

A sustained premium above 0.5% is worth watching: it typically means on-chain buyers are absorbing new supply faster than arbitrageurs can mint and sell, which can precede a spot price move. A discount below −0.3% is historically brief, the redemption floor (50 oz minimum, Switzerland delivery) is the hard backstop that prevents deeper discounts from persisting. Premium, discount and spot are defined in plain language in the gold market glossary.

XAUT is a gold-backed token in the most literal sense. Unlike gold ETFs that pool holdings across hundreds of bars, each XAUT token is assigned to a specific bar number on a specific London Good Delivery bar held in a Swiss vault operated by TG Commodities Limited. A London Good Delivery bar weighs between 350 and 430 troy ounces of minimum 99.5% purity gold, the institutional settlement standard used by central banks and the LBMA. You can look up your bar number directly on the Tether Gold verification portal using your Ethereum wallet address.

The circulating supply of XAUT, 612,823 tokens as of 26 July 2026 per CoinGecko, equals the number of troy ounces physically held in vault. When new XAUT is minted, new gold must enter the vault; when tokens are redeemed, gold leaves. This 1:1 relationship is verifiable at all times, total token supply on Ethereum is publicly readable from the ERC-20 contract at 0x68749665FF8D2d112FA859AA293F07A622782F38. XAUS also publishes the live XAUT price in its free JSON API, and sets out where each number comes from in its methodology and data-source notes.

Four ways to hold an ounce, compared on the things that actually change the outcome rather than on the headline expense ratio.

The redemption row is the one most often skipped. A 50 ounce floor puts physical delivery out of reach for most holders, which means the practical exit for a small position is the same as it is for an ETF: sell it in the market.

Tax treatment varies significantly and is the most important practical difference. In most jurisdictions, gold ETF shares are taxed as securities; physical gold is taxed as a collectible (often at a higher rate); XAUT may be treated as property, a commodity, or a digital asset depending on local regulation. No XAUS content constitutes tax advice, consult an advisor for your specific situation.

XAUT has two distinct liquidity ecosystems. On centralised exchanges, the Binance XAUTUSDT pair consistently leads by volume, and it is the reference price used by the XAUT premium/discount gauge on this page. The table above carries each venue's own 24h figure rather than a static estimate, refreshed every 30 seconds. Gate.io, Bybit, OKX and KuCoin also list XAUT, but their APIs cannot be read from a web page, so they are not in the table. Bitfinex, as Tether's affiliated exchange, offers the deepest USD (not USDT) order book and is historically where large block trades settle.

On-chain DEX liquidity is concentrated almost entirely on Ethereum. The Uniswap v3 XAUT/USDT 0.05% pool (0x6546055…) holds several million dollars in concentrated liquidity and processes the majority of DEX volume. The Curve XAUT/PAXG pool provides a unique venue for gold-to-gold swaps, useful for anyone switching between XAUT and PAXG, the other major tokenized gold standard, without touching fiat. Because issuance is confined to one contract on one chain, there are no bridged wrappers competing for the same liquidity.