Gold prices have increased exponentially over the last couple of years, but in recent weeks, things have been a bit more volatile. Case in point: In early April, gold was averaging around $3,140 per ounce. Less than a week later, it had dropped to $2,976, only to near $3,200 within days.

Gold prices just wrapped up their biggest daily gain since April 2020, when panicked investors were hoarding the precious metal during the Covid market meltdown.