Gold bars are stacked in a vault at the United States Mint in West Point, N.Y. Photo by Mike Groll/AP files

Gold futures soared to an all-time high of US$3,534.10 per ounce on Friday after reports that the Trump administration was moving to impose tariffs on certain gold bars. But the precious metal, which has been on a tear in recent months, came off those highs later in the day, when the White House said a clarification regarding “misinformation” about a bullion tariff would be forthcoming. Here’s how things played out throughout the day and where they stand now.

What happened?

Gold prices surged on Thursday after a letter from the U.S. Customs Border Protection Agency was published, suggesting that levies would be imposed on one-kilo and 100-ounce gold bars because of the “re

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