U.S. President Donald Trump announced that gold prices in the international market have soared, surpassing $3,100 per ounce for the first time, currently standing at $3,107.26. In March alone, gold prices have surged approximately 8%, with a total rise of 18% noted in 2025.
Experts suggest that the looming implementation of U.S. reciprocal tariffs has sparked concerns across the global market, leading investors to view gold as a secure investment, which has driven prices higher.
Rajiv Dutta, CEO of Capex Gold and Investments, indicated that market reactions depend on the Trump administration’s stance on tariffs this week. Should strict tariffs be enforced, gold could potentially reach $3,200 per ounce. Conversely, if leniency is shown by April 2, profit booking might occur.
The already elevated gold prices might further escalate due to rising trade tensions, directly affecting the jewelry market in India, which relies heavily on imports for gold.
