---
title: "Gold Futures Hit Record High"
description: "Gold futures reached a record high on Friday, driven by U.S. tariffs on one-kilogram gold bar imports. December gold futures rose 0.9% to $3,484.10, peaking at $3,534.10. Spot gold decreased 0.3% to $"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/252215984.md"
published_at: "2025-08-08T11:16:39.000Z"
---

# Gold Futures Hit Record High

> Gold futures reached a record high on Friday, driven by U.S. tariffs on one-kilogram gold bar imports. December gold futures rose 0.9% to $3,484.10, peaking at $3,534.10. Spot gold decreased 0.3% to $3,386.30 but is up 0.7% for the week. The tariff news widened the price gap between New York futures and spot prices by over $100. Spot silver fell 0.6% to $38.09, while platinum increased 0.7% to $1,343.61 and palladium dropped 0.8% to $1,142.

Gold futures climbed to a record high on Friday after a report that the United States had imposed tariffs on imports of one-kilogram gold bars, while spot gold stayed on track for a second straight weekly gain on tariff turmoil and U.S. interest rate-cut hopes.

Spot gold was down 0.3% at $3,386.30 U.S. per ounce, after hitting its highest since July 23 earlier in the session. Bullion is up 0.7% so far this week.

U.S. gold futures for December delivery were up 0.9% at $3,484.10, after hitting an all-time high of $3,534.10.

The price spread between New York futures and spot prices widened by more than $100 after the Financial Times reported on Thursday that the United States had imposed tariffs on imports of one-kilogram gold bars, citing a letter from Customs and Border Protection.

The letter, dated July 31, said one-kilogram and 100-ounce gold bars should be classified under a customs code subject to higher tariffs, a move that could impact Switzerland, the world’s largest gold refining hub.

Elsewhere, spot silver fell 0.6% to $38.09 U.S. per ounce, platinum rose 0.7% to $1,343.61 and palladium dropped 0.8% to $1,142.

### Related Stocks

- [PLG.US - Platinum Grp Met](https://longbridge.com/en/quote/PLG.US.md)
- [GOLD.AU - ETFS Capital Ltd.](https://longbridge.com/en/quote/GOLD.AU.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.