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Gold prices surged past $3030 per ounce on Wednesday, boosted by safe-haven demand amid uncertainty over US reciprocal tariffs set to take effect on April 2. While Trump's plan is expected to be more limited than earlier promises, it still poses a risk of escalating trade tensions. Meanwhile, investors remain cautious as they await Friday's US PCE data and speeches from Fed officials for further policy insights. The dollar index hovered around 104, reflecting market hesitation ahead of key developments. On MCX, April bullion futures rose by ₹136 to ₹87690 per 10 grams, though prices remain over ₹2000 below the lifetime high of ₹89796 recorded in March.

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