New Delhi, April 4 -- The uncertainties around Trump's reciprocal tariffs plan and its subsequent announcement this week have come as a jab in the arm for international gold prices, which have been moving northwards for a considerable period.

Gold prices extended gains to hover near all-time highs of USD 3,201 per ounce on the day Trump announced the reciprocal tariffs, and analysts believe safe-haven gold prices will remain elevated over a possible escalation in the trade war.

Publicly available data showed that gold prices rose at an unprecedented pace in 2025, soaring over 20 per cent. Over the past year, they have risen about 40 per cent.

NS Ramaswamy, Head of Commodities at Ventura, said the immediate reaction to the announcement ...