Commodities Surge as Gold Prices Jump 18% Amid Safe-Haven Demand

The Busan Digital Asset Exchange (BDAN) has reported that major commodity prices, including gold, silver, and copper, have surged together over the past month, boosting demand for safe-haven assets.

According to BDAN, its physical gold-based product e-Gold rose about 8.3% over the past month, climbing to 207,900 won per gram on August 26 from 191,900 won on July 26.

The increase followed a rally in international gold prices, which surged about 18% over the same period, reaching around $4,712.8 an ounce intraday on August 24 from $3,992 on July 16.

A BDAN official attributed the increase to a weaker dollar, reduced prospects for additional interest-rate hikes by the Federal Reserve, and concerns over slowing economic growth.