Gold prices soared to record highs after Donald Trump slapped tariffs on bars of the precious metal. In a shock move that blindsided the bullion market, US officials ruled that one kilo and 100 ounce bars should be subject to import duties. US gold futures hit a record of 3.535 per troy ounce in Friday trading after an FT report revealed the plans.

Many were baffled when Donald Trump slapped a steep 39% tariff on imports from Switzerland. The Swiss aren't known for flooding the US with cheap goods, but their outsize role in gold refining is distorting trade data.

This tends to be a positive sign, as Charlie Morris of Bytetree — my usual go-to for all things precious metals (and crypto) — noted in the most recent edition of his Atlas Pulse newsletter. In his view, gold remains in a bull market that is “far from done.”

Gold extended gains after President Donald Trump said he had chosen Council of Economic Advisers Chairman Stephen Miran to serve as a Federal Reserve governor.

The nomination of Miran to the Federal Reserve Board by former President Donald Trump has led to a notable increase in gold prices. This move comes amidst a backdrop of economic uncertainty and has sparked discussions about the future direction of U.

President Donald Trump announced he has selected Stephen Miran to join the Federal Reserve Board of Governors, but says he will continue search for a permanent replacement.