Bitcoin News Today: Gold Prices Surged Then Retraced Amid Trumps 39 Tariffs On Swiss Imports

Gold prices experienced a dramatic surge followed by a pullback as U.S. tariffs on imported gold bars introduced significant uncertainty into the market. The Trump administration recently announced tariffs of up to 39%, particularly targeting Swiss gold imports, causing a spike in gold futures on the Comex before prices retraced slightly. The White House has since signaled plans to clarify the policy, but investors remain in wait-and-see mode as the final details remain unconfirmed [3]. The tariffs have triggered volatility in both physical bullion and gold-backed cryptocurrency tokens, although major cryptocurrencies like Bitcoin and Ethereum have not yet shown a direct correlation with the gold price swings [2].

The U.S. government’s decision has already had tangible effects on retail investors. Costco shoppers, who regularly purchase gold bars, now face higher prices due to the new tariffs, prompting concerns about near-term demand sustainability. As import costs rise, some analysts speculate that a portion of capital traditionally allocated to gold may shift toward cryptocurrencies, which are increasingly viewed as safe-haven assets. This potential reallocation has been noted as Bitcoin showed signs of a breakout ahead of the tariff announcement, though it remains to be seen whether this trend will persist [7].

The impact of the tariffs extends beyond individual investors. Institutional portfolios with exposure to gold-backed tokens—such as PAX Gold (PAXG) and Tether Gold (XAUT)—are also at risk of volatility. Historically, tariff changes have led to temporary rotations into commodities-linked digital assets, and the current situation is no exception. Analysts suggest that further clarification from the administration could either stabilize the market or lead to further disruptions, depending on the final scope and duration of the tariffs [1].

Financial markets are closely monitoring developments, particularly as the Trump administration prepares an executive order to address what it has described as “misinformation” surrounding the tariff policy. In the absence of direct comments from the president or major crypto influencers, market participants are left to interpret the implications of the tariffs. With gold having gained over 34% year-to-date amid broader geopolitical uncertainty, the latest regulatory shift adds another layer of complexity to asset allocation strategies [5].

The interplay between tariffs, bullion, and digital assets remains a dynamic space as investors assess risk and return profiles amid evolving macroeconomic conditions. Ongoing monitoring is recommended for both investors and policymakers to navigate potential shifts in market behavior and regulatory developments [6].

Source: [1] Fox, https://www.foxbusiness.com/markets/gold-prices-soar-record-high-trump-tariffs-threaten-bullion-trade

[2] Investopedia, https://www.investopedia.com/trump-puts-tariffs-on-gold-bars-sparking-chaos-in-bullion-market-11783724

[3] Euronews.com, https://www.euronews.com/business/2025/08/08/gold-futures-rise-after-report-trump-has-placed-tariffs-on-gold-bars

[4] The, https://thedailyeconomy.org/article/trumps-39-tariff-on-gold-revenue-grab-or-prelude-to-revaluation/

[5] CoinDesk, https://www.coindesk.com/markets/2025/08/08/gold-futures-hit-record-after-u-s-tariffs-boosting-safe-haven-case-for-bitcoin

[6] AInvest, https://www.ainvest.com/news/bitcoin-price-nears-breakout-trump-adds-tariffs-gold-retirement-funds-invest-cryptocurrencies-2508/

[7] Markets.com, https://www.markets.com/news/gold-futures-surge-tariffs-impact-592-en-EU