Gold prices, after reaching a record high, plummeted over $250 in a single day, the biggest drop in years. Despite brief rebounds, gold futures traded at about $4,036 on Wednesday. Gold sales surge during economic uncertainty, with prices up since 2025 amid geopolitical tensions and demand from central banks.

Analysts attribute this week’s pullback in gold prices to hopes of easing trade tensions and concerns of overbought market conditions. Gold futures are still up 50% overall since the start of 2025, with silver up 60% year to date. Investing in gold is seen as a safe haven but experts warn against over-reliance on the commodity.

The surge in gold demand has led to a rise in mercury usage in illegal gold mining, causing health and environmental hazards. Mercury pollution affects water sources, accumulates in fish, and poses neurological and developmental risks. The effects of mercury poisoning have been reported in countries like Senegal, Mexico, and Peru, among others.

Read more at Yahoo Finance: Gold prices have tumbled from recent records. What’s behind the losses?