Gold futures surged to a record high on Friday after U.S. President Donald Trump imposed tariffs on imported gold bars, a rare move sparking both safe-haven buying and fresh concerns over supply disruptions in a market unaccustomed to such trade measures.

The most actively traded U.S. gold futures contract climbed as high as $3,534 per troy ounce after U.S. Customs and Border Protection confirmed that one-kilogram and 100-ounce bars would face reciprocal tariffs.

Tariffs make imported gold more expensive for U.S. buyers. That cost pressure typically pushes futures prices higher than spot prices, creating arbitrage opportunities for traders. The setup can fuel speculative buying, but it also sends a geopolitical signal — gold has historically been viewed as outside trade-war crossfire, mo

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