Gold prices soar to record high after US tariff hike
Gold futures for December just hit a record $3,534.10 after the US slapped a big new tariff on imported gold bars from Switzerland.
This sudden move disrupted global gold flows and pushed spot prices up too, landing near $3,386 per ounce.
US tariffs on Swiss gold bars disrupt global gold flows
A hefty 39% tariff could mean around $24 billion in extra costs, making it tougher (and pricier) to get gold into the US.
It's not just about shiny metal—these trade changes are shaking up global markets and adding uncertainty for anyone watching investments or thinking about safe-haven assets.
Gold's price surge story
The spike isn't just about tariffs. Weak US job numbers have people betting on a Federal Reserve rate cut soon.
Lower rates usually make gold more appealing, especially when things feel uncertain economically—so both policy and market nerves are fueling the rally.