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Time of India
08-08-2025
- Business
- Time of India
US gold futures hit all-time high on tariff uncertainty over bullion imports
U.S. gold futures hit a record high on Friday amid uncertainty over whether country-specific U.S. import tariffs would apply to the most commonly traded sizes of gold bars. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads U.S. gold futures hit a record high on Friday amid uncertainty over whether country-specific U.S. import tariffs would apply to the most commonly traded sizes of gold prices, meanwhile, eased but remained on track for a weekly U.S. customs and border protection service released a ruling on its website on Friday, which the gold industry interpreted as meaning that country-specific U.S. import tariff could apply to the U.S. most-traded sizes of gold U.S. gold futures rose 0.9% to $3,483.70 per ounce after hitting a record $3,534.10 earlier in the session when the Financial Times reported the news first."Gold's panic ascent shows that even safe haven assets are not immune to the volatility unleashed in the confusion of the tariff age," Susannah Streeter, head of money and markets, Hargreaves broadly noted that they are awaiting further clarity on the issue, adding that a U.S. tariff on gold deliveries could significantly affect Switzerland, given its status as the world's leading hub for gold refining and spread between futures and spot prices widened, currently at $95. Spot gold fell 0.2% to $3,388.27 per ounce as of 10:17 am ET (1417 GMT) and was up 0.8% for the week."Short term this shouldn't have any impact on retail pricing, because while U.S. stockpiles are already huge right now, demand remains very poor. If or when that changes, then longer term the new tariffs (could) mean a jamboree for U.S. refiners transforming large 400-oz bars into retail units," said Adrian Ash, head of research at online marketplace gold inventories saw huge inflows from Switzerland and London between December and March, as traders moved to hedge against the potential imposition of broad U.S. tariffs on gold spot silver rose 0.2% to $38.25 per ounce, platinum fell 0.6% to $1,325.46 and palladium was down 2.4% at $1,123.50.
Economic Times
08-08-2025
- Business
- Economic Times
US gold futures hit all-time high on tariff uncertainty over bullion imports
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel U.S. gold futures hit a record high on Friday amid uncertainty over whether country-specific U.S. import tariffs would apply to the most commonly traded sizes of gold prices, meanwhile, eased but remained on track for a weekly U.S. customs and border protection service released a ruling on its website on Friday, which the gold industry interpreted as meaning that country-specific U.S. import tariff could apply to the U.S. most-traded sizes of gold U.S. gold futures rose 0.9% to $3,483.70 per ounce after hitting a record $3,534.10 earlier in the session when the Financial Times reported the news first."Gold's panic ascent shows that even safe haven assets are not immune to the volatility unleashed in the confusion of the tariff age," Susannah Streeter, head of money and markets, Hargreaves broadly noted that they are awaiting further clarity on the issue, adding that a U.S. tariff on gold deliveries could significantly affect Switzerland, given its status as the world's leading hub for gold refining and spread between futures and spot prices widened, currently at $95. Spot gold fell 0.2% to $3,388.27 per ounce as of 10:17 am ET (1417 GMT) and was up 0.8% for the week."Short term this shouldn't have any impact on retail pricing, because while U.S. stockpiles are already huge right now, demand remains very poor. If or when that changes, then longer term the new tariffs (could) mean a jamboree for U.S. refiners transforming large 400-oz bars into retail units," said Adrian Ash, head of research at online marketplace gold inventories saw huge inflows from Switzerland and London between December and March, as traders moved to hedge against the potential imposition of broad U.S. tariffs on gold spot silver rose 0.2% to $38.25 per ounce, platinum fell 0.6% to $1,325.46 and palladium was down 2.4% at $1,123.50.
