Gold Futures Surge to Record High Amid U.S. Tariffs, Highlighting Bitcoin’s Safe-Haven Appeal

Gold futures soared to an all-time high as U.S. tariffs on imported gold bars triggered a rush for safe-haven assets. The move underscores growing market anxieties and could bolster the case for Bitcoin as a hedge against trade-driven volatility.

The most actively traded gold futures contract jumped to $3,534 per troy ounce after the TRUMP administration imposed tariffs on one-kilogram and 100-ounce bars. Switzerland, a major gold supplier to the U.S., faces particularly steep levies—raising concerns about supply disruptions and potential short squeezes in the COMEX market.

Peter Schiff, a prominent gold advocate, warned the tariffs could wreak havoc on futures markets as traders scramble to cover positions. The situation mirrors dynamics that often benefit Bitcoin during periods of macroeconomic uncertainty, though the cryptocurrency wasn't directly mentioned in the tariff announcement.