Hong Kong-based British Bitcoin Company (BTCC) said on Thursday that its TradFi platform, launched in February, recorded its highest single-day trading volume in gold and oil on March 6, as demands for safe-haven assets increased due to surging geopolitical instability in the Middle East, disconcerting the global markets.

Gold trading total daily volumes across all gold tokens, including PAXGUSDT, XAUTUSDT, GOLDUSDT and XAUUSD, exceeded $60 million, while XAU on TradFi alone traded for $34.89 million.

Crude oil trading volume also saw strong growth, with combined USOIL and UKOIL volume recorded at $33.19 million during the same day.

The rising volumes represent increased appetite for commodities among traders as macroeconomic unpredictability surges. To meet user needs, BTCC TradFi plans to add natural gas and copper to its broader suite of commodity trading pairs, the exchange added.

Meanwhile, MEXC, the Seychelles-based exchange, reported a 123% rise in its GOLD(XAUT) USDT futures on March 3 compared to February 27, indicating strong demand for precious metals derivatives amid geopolitical tensions.

India’s Multi Commodity Exchange saw a 200% surge in gold futures and 70% spike in silver futures trading on March 2, driven by heightened geopolitical stress.