It's been a banner year for gold. In March, the precious metal's price crossed the $3,000 per ounce mark for the first time in history — and the upward price trajectory didn't stop there. The price of gold has continued to climb in the time since, surging past the $3,300 per ounce mark this week.

Although gold and silver have not been a direct target of tariffs, market reactions to trade uncertainty have driven a significant shift in prices.

Gold prices have seen a remarkable surge over the past four years. In April 2021, the MCX gold rate hovered around ₹47,000 per 10 grams. On April 17, 2025, the gold price hit a historic high of ₹95,935 per 10 grams — marking a robust 104% increase.