Golden futures climbed to a record high on Friday, reported that the U.S. imposed tariffs on imports of 1 kilogram of gold bars, while spot gold was gaining for the second time in a row amid tariff turbulence and hopes of lower U.S. interest rates.
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Gold prices fell from a record Friday after the White House said it would clarify “misinformation” of precious metals facing tariffs.
“The White House intends to issue an executive order in the near future clarifying misinformation about tariffs on gold rods and other specialty products,” a White House official told CNBC.
Gold futures closed at $3,491.30 in the White House statement. The final transaction price of precious metals is $3,463.30.
this Swiss Precious Metals Association U.S. tariffs could negatively affect international physical gold flows, warning earlier on Friday. ”
“We are particularly concerned about the impact of tariffs on the gold industry and the exchange of gold with the United States, a long history of Switzerland,” said Mr. Swiss Precious Metals Association.
President Donald Trump imposes a 39% tariff on Swiss exports to the United States. Excluding tariffs. Switzerland is the largest gold refinery in the world.
“It must be noted that this clarification does not apply not only to Switzerland, but to all 1kg and 100 ounces of gold cast rods imported from any country to the United States,” said the Swiss Association of Precious Metals.
