Aug. 8 (UPI) -- The price of U.S. gold futures spiked on Friday, a day after Switzerland was hit with 39% American tariffs on its goods, including 1-kilogram gold bullion bars.

Gold on the COMEX, the world's largest market for gold futures, eclipsed $3,530 on Friday, a 52-week high.

The metal was up $8.10 or 0.23% to $3,461 as of 2 p.m. EDT.

President Donald Trump last month confirmed he would move ahead with his reciprocal tariff policy for countries that had not reached a trade deal with the United States, meaning a 39% duty on Switzerland. Those levies took effect Thursday.

A ruling on the U.S. Customs and Border Protection website confirms the tariffs extend to the gold bars refined in Switzerland. Some analysts had hoped for an exemption. The ruling applies to both the 1-

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