Gold Prices Soar 9.66% as Dollar Weakness and Debt Concerns Fuel Demand

Gold prices have surged 9.66% in August, marking the largest monthly gain in decades according to COMEX futures data.

This increase is attributed to rising U.S. national debt and concerns over a weaker dollar, driving demand for supply-constrained assets like gold and Bitcoin (BTC).

Retail investors have poured $95 million into domestically listed spot gold exchange-traded funds (ETFs), while gold-mining funds delivered returns exceeding 20%.