Spot gold prices were little changed around $3,340 an ounce on Friday, holding near two-week highs, while NY gold futures for December delivery surged to an intraday record of $3,534 per troy ounce following news of fresh US tariffs. According to the Financial Times, the US Customs and Border Protection agency ruled that one-kilo and 100-ounce gold bars should be classified under a customs code subject to levies—contradicting industry expectations that these bars would be exempted. The move could hit Switzerland, the world’s biggest gold-refining hub, particularly hard, as gold ranks among its largest exports to the US. For the week, spot gold is up nearly 1%, marking a second consecutive weekly gain, supported by trade uncertainty, renewed tariff threats, and rising expectations for Federal Reserve rate cuts.
Manage Consent
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.
The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.