Gold prices rise after report of US tariffs on gold bars

07/08/2025 Argaam
Gold bars

Gold bars

Gold prices rose on Thursday as new US tariffs on several countries came into effect, heightening global economic uncertainty.

 

December gold futures gained 0.60%, or $20.30, to settle at $3,453.70 per ounce.

 

US President Donald Trump's higher tariffs on imports from dozens of countries kicked in on Thursday, leaving major trade partners such as Switzerland, Brazil and India hurriedly searching for a better deal.

 

"Ongoing trade tensions, and heightened geopolitical tensions continue to underpin the market with the safe-haven interest," said Peter Grant, vice president and senior metals strategist at Zaner Metals.

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