Gold prices experienced a significant jump on Thursday, April 10, with the precious metal seeing its largest single-day increase in 18 months. This rise came after U.S. President Donald Trump announced a 90-day suspension of tariffs for at least 75 countries. As of 2:50 AM Eastern Time, Spot Gold had risen by 1.6%, trading near $3,150 per ounce, approaching its previous record highs. The price briefly dipped below the $3,000 mark as tensions escalated between the U.S. and its trading partners.
Despite the temporary tariff suspension, the U.S. has escalated its tariffs on Chinese goods, increasing them to 125%. Meanwhile, the U.S. Dollar remains under pressure, continuing to trade below the 103 mark, as the outlook for the Dollar’s strength has become uncertain amid tariff developments.
On the global stage, China raised its tariffs on U.S. goods from 34% to 84% following the announcement of the U.S. tariff pause, signaling continued trade tensions.
“We remain quite positive for gold,” said Dominic Schnider, head of commodities and Asia Pacific currencies at UBS Global Wealth Management, during an interview on Bloomberg Television. He further indicated that the next significant push for gold could come when the Federal Reserve intervenes.
The 10-year U.S. Treasury yield, which had recently surged to 4.5%, has slightly cooled, dipping below 4.3%. Gold prices reached an all-time high of $3,167.57 on April 3, 2025.
In India, gold prices also saw an upward trend. As of the latest data, 24-karat gold is priced at ₹9,338 per gram, while 22-karat gold stands at ₹8,560 per gram. The price for 18-karat gold is ₹7,004 per gram, according to Goodreturns.
Rahul Singh of Tata Asset Management shared his view on investment opportunities during this period of volatility: “As the market moves from global trends to company-specific opportunities, disciplined investing in large cap, flexi cap, and multi-asset funds, especially those with gold exposure, can help reduce portfolio risk. While short-term volatility may persist, India’s relative strength offers long-term confidence to investors.”
The World Gold Council reported that gold-backed exchange-traded funds (ETFs) saw the largest quarterly inflows in three years during the January-March 2025 period, highlighting increased investor interest in gold.
Looking ahead, markets are awaiting U.S. inflation data later this week, with the Consumer Price Index (CPI) set to be released on Thursday and the Producer Price Index (PPI) on Friday. Analysts suggest that if macroeconomic uncertainty continues, gold may maintain its upward trajectory.
This recent surge in gold prices underscores the ongoing market volatility and the growing demand for safe-haven assets amid global economic challenges.
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