Core Insights - Gold futures reached a record high due to reports of U.S. tariffs on 1-kg gold bars, while spot gold is on track for a second consecutive weekly gain amid tariff uncertainties and expectations of U.S. interest rate cuts [1] - Following the White House's announcement to clarify misinformation regarding gold tariffs, gold futures fell from an all-time closing high of $3,491.30 to $3,463.30 [2] - The Swiss Precious Metals Association expressed concerns that U.S. tariffs on gold bars could negatively affect the international flow of gold [2][3] Industry Impact - President Trump imposed a 39% tariff on Swiss exports to the U.S., with the U.S. Customs and Border Protection confirming that 1 kg and 100 oz gold bars are subject to these tariffs [4] - Switzerland, being the largest gold refiner globally, is particularly affected by these tariffs, which apply to all countries exporting 1 kg and 100 oz gold cast bars to the U.S. [4]

The Trump administration suggested it would issue a new policy clarifying that imports of gold bars should not face tariffs, after the government stunned traders by ruling that they would be subject to duties https://t.co/2vcPr3Pk36 ...

The London Bullion Market Association said it’s seeking clarification on the recent US Customs and Border Protection ruling on reciprocal tariffs for gold bars https://t.co/jHf1hkOrF8 ...

🔥 NEW: Gold bars will be subject to tariffs. Strategy CEO Michael Saylor breaks down why you can't tariff Bitcoin."Bitcoin lives in cyberspace. No tariffs in cyberspace." https://t.co/E83IcwV9M6 ...