India, Aug. 8 -- Gold held firm near $3,400 per ounce on Friday amid Fed rate cut bets and reports suggesting that gold bars would be subject to U.S. tariffs.
Spot gold was marginally higher at $3,397.57 per ounce in European trade as the Trump administration's higher tariff rates on trading partners took effect from midnight. U.S. gold futures were up more than 1 percent at $3,489.02.
The dollar held firm but was heading for a weekly fall as Federal Reserve Governor Christopher Waller emerged as one of the top contenders to replace Federal Reserve Chair Jerome Powell alongside Kevin Warsh and Kevin Hassett.
Waller, who favored a rate cut at the July meeting, impressed members of Trump's team during a recent meeting for his in-depth know...