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Historic price rally lures criminals and paramilitaries into illicit mining from the Amazon to Sudan
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Growing amount of unreported transactions presents challenge for bullion market traders

More countries are buying directly from artisanal miners as trafficking robs them of tax revenues and foreign exchange

Much of the precious metal is transported through the UAE and used to finance warring parties

Its price is now far above levels suggested by fundamental forces, but it’s hard to see what might stop its ascent

Surge in bullion prices turns precious metals trading and vaulting into one of finance’s most profitable businesses

The surge in the precious metal’s price could have ominous implications for the markets