Gold Prices Surge on August 8, 2025: Trump Imposes Tariff on One-Kilo Bars

Gold prices surged to unprecedented levels on August 8 after reports emerged that US President Donald Trump had imposed tariffs on the import of one-kilo gold bars — a move that could have far-reaching effects on global markets.

On the Multi Commodity Exchange (MCX), October gold futures soared to a lifetime high of ₹1,02,250 per 10 grams in early trade. In the international market, December gold futures on Comex touched a 52-week high of over $3,500 for 100 troy ounces.

According to the Financial Times, the US Customs and Border Protection has reclassified one-kilo and 100-ounce gold bars under a tariff-bearing customs code, effectively subjecting them to higher import duties. Analysts believe this could significantly affect Switzerland — the world’s largest gold refining hub — and disrupt global gold pricing and settlement systems.

Market experts say the new tariffs have intensified gold’s appeal as a safe-haven asset, especially amid political uncertainty and expectations of a US interest rate cut. “Gold prices rallied on tariff turmoil and broader market concerns,” brokerage Angel One noted, adding that spot gold is on track for a second consecutive weekly gain.

The move marks a shift from earlier this year, when Trump’s sweeping reciprocal tariffs excluded gold. Now, with major trade partners like Switzerland, Brazil, and India scrambling to negotiate exemptions, investors are flocking to gold as a hedge against volatility.

With the festive demand season approaching in key Asian markets and global economic tensions running high, traders expect gold prices to remain buoyant in the near term.