Gold Prices Soar 9.66% as Investors Flee Weakening Dollar

Gold prices have surged by 9.66% over the past month, marking one of the biggest monthly gains in decades. The uptick comes as investors seek to hedge against a weakening dollar and rising US national debt.

Retail investors have snapped up $95 million worth of gold ETFs, while funds investing in gold-mining companies have delivered returns of more than 20%. The strong demand for gold is being driven by a 'debasement trade', which aims to protect against a decline in the dollar's value.

The US national debt has exceeded $40 trillion, causing concerns about fiscal soundness. As a result, investors are turning to supply-constrained assets like gold and Bitcoin. The KRX Gold Market and spot gold ETFs remain popular investment options for South Korean investors.