AP PHOTOS: Economic jitters and soaring gold prices create a frenzy for US jewelry merchants

LOS ANGELES (AP) — As gold prices soar to record highs resulting from global economic jitters, hundreds of thousands of U.S. dollars’ worth of gold are circulating through the doors of the St. Vincent Jewelry Center in downtown Los Angeles on any given day.

Many of the 500 independent merchants in the largest jewelry center in the United States say they have never seen such a surge in customers. People are flocking in to sell or melt down their old jewelry, while others are investing in gold blocks to keep as stable assets.

Gold’s current rally comes as President Donald Trump issues ever-changing announcements of tariffs, roiling financial markets into volatility and threatening to reignite inflation.

This is a photo gallery curated by AP photo editors.

Molten gold settles in a mold at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)

Imported gold chains are displayed at V&P Jewelry in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)

Gold jewelry are displayed for sale at V&P Jewelry in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles in Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)

Containers holding gold granules are seen at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)

Gold jewelry melts inside a crucible at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)

A bowl filled with gold jewelry and a gold bar is weighed at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)

Sarahi Cervantes places a gold bar on an X-ray machine for assaying at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)

Molten gold is poured into a mold at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)

Melter Alberto Hernandez loads gold into a crucible at A&M Precious Metals in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)

Sam Nguyen shows a gold bar at her shop in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)

Puzant Berberian, whose family founded V&P Jewelry, sits for a photo at his shop in the St. Vincent Jewelry Center in Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)

The St. Vincent Jewelry Center is shown in the Jewelry District of Los Angeles Friday, May 2, 2025. (AP Photo/Jae C. Hong)

A collection of gold coins is displayed at a shop in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)

A pedestrian walks past the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, Friday, May 2, 2025. (AP Photo/Jae C. Hong)

NEW YORK (AP) — Thousands of nurses in three hospital systems in New York City went on strike Monday after negotiations through the weekend failed to yield breakthroughs in their contract disputes.

The strike was taking place at The Mount Sinai Hospital and two of its satellite campuses, with picket lines forming. The other affected hospitals are NewYork-Presbyterian and Montefiore Medical Center in the Bronx.

About 15,000 nurses are involved in the strike, according to New York State Nurses Association.

“After months of bargaining, management refused to make meaningful progress on core issues that nurses have been fighting for: safe staffing for patients, healthcare benefits for nurses, and workplace violence protections,” the union said in a statement issued Monday. “Management at the richest hospitals in New York City are threatening to discontinue or radically cut nurses’ health benefits.”

The strike, which comes during a severe flu season, could potentially force the hospitals to transfer patients, cancel procedures or divert ambulances. It could also put a strain on city hospitals not involved in the contract dispute, as patients avoid the medical centers hit by the strike.

The hospitals involved have been hiring temporary nurses to try and fill the labor gap during the walkout, and said in a statement during negotiations that they would “do whatever is necessary to minimize disruptions.” Montefiore posted a message assuring patients that appointments would be kept.

“NYSNA’s leaders continue to double down on their $3.6 billion in reckless demands, including nearly 40% wage increases, and their troubling proposals like demanding that a nurse not be terminated if found to be compromised by drugs or alcohol while on the job," Montefiore spokesperson Joe Solmonese said Monday after the strike had started. "We remain resolute in our commitment to providing safe and seamless care, regardless of how long the strike may last.”

New York-Presbyterian accused the union of staging a strike to “create disruption,” but said in a statement that it has taken steps to ensure patients receive the care they need.

"We’re ready to keep negotiating a fair and reasonable contract that reflects our respect for our nurses and the critical role they play, and also recognizes the challenging realities of today’s healthcare environment,” the statement said.

The work stoppage is occurring at multiple hospitals simultaneously, but each medical center is negotiating with the union independently. Several other hospitals across the city and in its suburbs reached deals in recent days to avert a possible strike.

The nurses’ demands vary by hospital, but the major issues include staffing levels and workplace safety. The union says hospitals have given nurses unmanageable workloads.

Nurses also want better security measures in the workplace, citing incidents like a an incident last week, when a man with a sharp object barricaded himself in a Brooklyn hospital room and was then killed by police.

The union also wants limitations on hospitals’ use of artificial intelligence.

The nonprofit hospitals involved in the negotiations say they’ve been working to improve staffing levels, but say the union’s demands overall are too costly.

Nurses voted to authorize the strike last month.

Both New York Gov. Kathy Hochul and Mayor Zohran Mamdani had expressed concern about the possibility of the strike. As the strike deadline neared, Mamdani urged both sides to keep negotiating and reach a deal that “both honors our nurses and keeps our hospitals open.”

“Our nurses kept this city alive through its hardest moments. Their value is not negotiable,” Mamdani said.

State Attorney General Letitia James voiced similar support, saying "nurses put their lives on the line every day to keep New Yorkers healthy. They should never be forced to choose between their own safety, their patients’ well-being, and a fair contract.”

The last major nursing strike in the city was only three years ago, in 2023. That work stoppage, at Mount Sinai and Montefiore, was short, lasting three days. It resulted in a deal raising pay 19% over three years at those hospitals.

It also led to promised staffing improvements, though the union and hospitals now disagree about how much progress has been made, or whether the hospitals are retreating from staffing guarantees.

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside Mount Sinai West Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside Mount Sinai West Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside Mount Sinai West Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside Mount Sinai West Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

FILE - A medical worker transports a patient at Mount Sinai Hospital, April 1, 2020, in New York. (AP Photo/Mary Altaffer, File)