Gold futures are on a tear Friday after a media report revealed the Trump administration's plan to tariff imports of gold bars. The news, first reported by the Financial Times on Thursday, has caused prices of gold in the spot and futures markets to diverge.

U.S. gold futures climbed to a record high on Friday after a report that the United States had imposed tariffs on imports of 1-kg gold bars, while spot gold stayed on track for a second straight weekly gain on tariff turmoil and U.

I would like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time.