Gold prices soar to record high as Trump tariffs threaten bullion trade

U.S. gold futures rose to a record high on Friday amid uncertainty over whether the Trump administration's country-specific import tariffs would apply to the most commonly traded sizes of gold bars.

Washington may place the most widely traded gold bullion bars in the U.S. under country-specific tariffs, according to a ruling on the U.S. Customs and Border Protection Service's website.

That ruling came as a blow to global supply chains for the metal and contributed to the rise in gold futures as markets reacted to its potential impact on the U.S. role in the gold futures market.