Mumbai, Aug. 8 -- Gold prices skyrocketed to fresh records on Friday, with gold futures touching $3534 per ounce in Asia's electronic trade after the US announced new tariffs on gold imports. Indian bullion futures mirrored the surge, climbing 0.5% to Rs.102250 per 10 grams on MCX. A US Customs notice reclassified 1-kg and 100-ounce gold bars under a new customs code subject to higher duties - a move likely to hit Swiss refiners and tighten global supply chains. Adding to the momentum, President Trump's sweeping new tariffs on a wide range of imports, including a 100% duty on semiconductors, have reignited trade tensions. A weaker US dollar, with the dollar index dipping below 98 on expectations of a more dovish Fed, further boosted gold's ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.