Gold Prices Skyrocket Amidst Economic Uncertainty

Gold investing experienced a significant surge in August as investors sought refuge from economic uncertainty. The price of gold jumped 13.3% in US Dollars, marking its third strongest monthly price rise since the turn of the century.

BullionVault users collectively bought more than $18 million worth of gold, increasing their total holdings by 0.3% and pushing them above 43.6 tonnes for the first time in nine months.

This surge in demand suggests that investors are growing increasingly concerned about government debt and potential debasement, with long-term bond yields reaching new multi-decade highs.