Uploaded July 2026 | Updated September 2026, 2 weeks ago
Since last year, one private company has bought more gold than any central bank on earth.
In this conversation, GoldSilver's Maggie Lake and Adrian Day, Chairman and CEO of Adrian Day Asset Management, get into what actually turns this gold market around, and the demand story Adrian says the market has badly underappreciated. Tether, the stablecoin giant and one of the world's largest holders of US Treasuries, has quietly become one of the biggest gold buyers on the planet.
Adrian lays out the catalysts that could break gold out of its range, why relentless ETF selling has masked steady central bank buying, and how a new gold-backed stablecoin with price-insensitive buying could reshape demand for years.
You'll learn:
What actually breaks gold out of its range, and the one signal Adrian is watching
Why selling from GLD alone offset all central bank buying in the first quarter
How Tether became the 7th or 8th largest holder of US Treasuries in the world
Why Tether has bought more gold than any single central bank, and why its buying is price-insensitive
How a gold-backed stablecoin could find real demand in places like Venezuela and Nigeria
Adrian's price target for gold and the timeline he expects
The single biggest risk that could derail the whole thesis
Buy Precious Metals at: goldsilver.com
Learn about Gold & Silver: goldsilver.com/learn
Subscribe to our channel: youtube.com/c/goldsilver?sub_confirmation=1
Get Essential Gold & Silver News—Delivered Twice a Week: goldsilver.com/join-our-newsletter
Follow us on Twitter: twitter.com/GoldSilver_com
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As always, thank you for your support.
The GoldSilver Team
Since last year, one private company has bought more gold than any central bank on earth.
In this conversation, GoldSilver's Maggie Lake and Adrian Day, Chairman and CEO of Adrian Day Asset Management, get into what actually turns this gold market around, and the demand story Adrian says the market has badly underappreciated. Tether, the stablecoin giant and one of the world's largest holders of US Treasuries, has quietly become one of the biggest gold buyers on the planet.
Adrian lays out the catalysts that could break gold out of its range, why relentless ETF selling has masked steady central bank buying, and how a new gold-backed stablecoin with price-insensitive buying could reshape demand for years.
You'll learn:
What actually breaks gold out of its range, and the one signal Adrian is watching
Why selling from GLD alone offset all central bank buying in the first quarter
How Tether became the 7th or 8th largest holder of US Treasuries in the world
Why Tether has bought more gold than any single central bank, and why its buying is price-insensitive
How a gold-backed stablecoin could find real demand in places like Venezuela and Nigeria
Adrian's price target for gold and the timeline he expects
The single biggest risk that could derail the whole thesis
Buy Precious Metals at: goldsilver.com
Learn about Gold & Silver: goldsilver.com/learn
Subscribe to our channel: youtube.com/c/goldsilver?sub_confirmation=1
Get Essential Gold & Silver News—Delivered Twice a Week: goldsilver.com/join-our-newsletter
Follow us on Twitter: twitter.com/GoldSilver_com
Follow us on Facebook: facebook.com/GoldSilverDotCom
As always, thank you for your support.
The GoldSilver Team
