Gold prices topped $4,300 this week. What's driving the surge?

Core Insights - Gold prices have reached a record high, closing at $4,326 per troy ounce, with futures trading above $4,344 before a slight decline [1] - The surge in gold prices is attributed to economic uncertainty, including a prolonged government shutdown and ongoing trade tensions, particularly with China [2][4] - Gold futures have increased nearly 60% since the beginning of 2025, while silver futures have risen about 70% in the same period [3] Economic Context - The U.S. government shutdown has delayed key economic data and affected federal employees, contributing to investor anxiety [5] - President Trump's trade wars have imposed steep tariffs, straining businesses and consumers, leading to higher costs and a weakened job market [4] - The Federal Reserve's recent interest rate cuts have made gold a more attractive investment option [6]