Trump administration tariff ruling sends gold futures to all-time high
West Point Gold Quentin Mai is discussing standard gold prices and US dollar’s strength on “Varney & Co.”
Gold futures in the United States rose on Friday amid uncertainty about whether the Trump administration’s import tariff will apply to the most common sizes of gold bars.
Washington may put the most used gold bars in the United States under the definitions of the country, according to a judgment on the customs service and the US border protection.
This ruling came as a blow to the global supply chains of minerals and contributed to increasing the future of gold, as the market reaction with its potential impact on the role of the United States in the gold contract market was.
US gold futures rose in December $ 3494.10 an ounce late in the morning after set a record of $ 3534.10 earlier in the session, when the Financial Times informed the first time.
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Gold futures increased in the United States to record their highest levels on uncertainty about the impact of definitions on gold imports. (Photographer: Chris Ratcliffe / Bloomberg via Getty Images / Getty Images)
“The rise of Gold’s Panic shows that even the origins of safe haven are not immune to the fluctuations that were launched in the confusion of the customs tariff era,” Susanna Striter, the head of money and markets at Hargreaves Lansdown said in a Reuters report.
She added: “If there is a follow -up and did not interfere, this may threaten the dominance of New York in the gold futures market, since the prices rose sharply compared to other trading centers.”
Trump “Day Editing” mutual definitions
Golden alloys imports will undergo customs tariffs under CBP. (Reuters / Mike Sigar (United States) / Reuters Pictures)
Immediate prices fell to $ 3,394 an ounce, but rose 0.9 % for the week. The spread of golden futures and instant prices has widened, and it is currently sitting at $ 100.
Analysts have indicated that they are waiting for more clarity on this issue, adding that the American tariff for gold deliveries can greatly affect Switzerland, a pioneering center in the world to refine gold and cross.
Swiss goods are subject to 39 % US import definitions, and the country continues to negotiate with the United States on reducing fees.
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The Swiss precious metals association raised concerns about the impact of definitions on the gold industry, saying that it is in an active dialogue with stakeholders on this topic.
Reuters contributed to this report.
2025-08-08 18:24:00
