Gold Futures Hit Record on U.S. Tariffs, Possibly Boosting Safe-Haven Case for Bitcoin

Key Points

1. Gold futures surged to a record high of $3,534 per troy ounce after U.S. President Donald Trump imposed tariffs on imported gold bars.

2. The tariffs, particularly affecting imports from Switzerland, may lead to supply disruptions and higher prices for U.S. buyers.

3. Bitcoin and tokenized gold products like PAX Gold saw modest movements, with bitcoin slipping slightly while tokenized gold rose.

4. The tariffs could increase gold's appeal as a safe-haven asset during economic uncertainty, potentially influencing similar assets like bitcoin.

5. Analysts noted that the tariffs might cause price surges and premiums on gold bars due to supply constraints and short-covering in the market.