The rush for gold continues, with prices topping $4,300 for the first time this week. Gold closed at a record $4,326 per troy ounce, up 6.7% over the last week. Silver futures are up 70%, trading at over $50 per troy ounce. Interest in buying gold spikes amid economic uncertainty and trade wars.

Gold prices have climbed nearly 60% this year, while silver futures are up 70%. Economic turmoil from trade wars has pushed costs higher and strained businesses, leading to job market weakness. The government shutdown delays key economic data and impacts federal employees.

Analysts point to a weak U.S. dollar and Federal Reserve rate cuts as driving gold investments. Central banks worldwide have increased gold demand amid geopolitical tensions. Wall Street saw regional bank losses, while investors shied away from risky assets like cryptocurrency.

The frenzy for gold has led to health and environmental consequences due to rising mercury demand in illegal gold mining. Mercury pollution harms water, fish, and people, causing neurological and developmental harm. Exposure risks affect industry workers and residents in affected areas globally.

Read more at Yahoo Finance: Gold prices topped $4,300 this week. What’s driving the surge?