Gold prices have skyrocketed to $5,300 this week, marking a historic peak. Tether and Coinbase, two major players in the world of stablecoins, are adopting contrasting strategies to capitalize on this surge. According to TradingView data, spot gold hit a record high of $5,311 per ounce. Amid this bullish trend, Tether, the issuer of USDt (USDT), is ramping up its gold reserves, while Coinbase is promoting access to gold futures on its platform. Tether has actively accumulated gold, boasting $12 billion in exposure as of September 2025. The company holds approximately 130 metric tons of gold, which positions it similarly to central banks in countries like Mexico and South Africa. A Tether spokesperson stated that the gold backing every XAUT token is held separately, allowing for physical delivery redemption. In contrast, Coinbase is highlighting its trading options for commodities, including gold and silver futures. Coinbase CEO Brian Armstrong emphasized the platform’s offerings, but some commentators view this as a potential signal that the market might be peaking. Meanwhile, Bitcoin continues to lag, trading below $90,000, while gold's price has soared 90% over the past year. This divergence highlights a significant shift in investor sentiment, with gold emerging as a favored hedge amid a declining US dollar index. As Tether positions itself as a leading player in the gold space, the implications for both crypto and traditional markets could be profound. Investors may need to rethink their strategies as gold's appeal grows stronger amid Bitcoin's struggles.