Trump imposes a tariff on gold bullion, sending prices soaring to record highs.

The gold market had a busy day on Friday, with prices reaching unprecedented levels . Futures contracts reached $3,534.20 per troy ounce during early trading, before stabilizing around $3,489.50, up 1% on the session.

According to the Financial Times today, the main trigger was the US government's decision to impose tariffs on imported one-kilogram bars , the most commonly used format in Comex market transactions. This measure, which could disrupt the normal flow of global gold trade, particularly affects Switzerland , recognized as the world's largest center for refining precious metals.

Adding to this pressure is an uncertain macroeconomic environment . The implementation of new tariffs pushed by the Trump administration , coupled with weak US economic data, has reinforced expectations that the Federal Reserve will opt for an interest rate cut in September . According to CME Group calculations, investors see an 89.4% probability of a 25 basis point cut.

In parallel, Trump nominated Stephen Miran to temporarily fill a vacancy on the Fed's Board of Governors . Considered the architect of the current tariff policy, his appointment is interpreted by analysts as a signal toward a more flexible monetary stance.

In this scenario, gold continues to consolidate its role as a safe haven from the volatility and uncertainty that dominate the global economy.

The gold market had a busy day on Friday, with prices reaching unprecedented levels . Futures contracts reached $3,534.20 per troy ounce during early trading, before stabilizing around $3,489.50, up 1% on the session.