The price of U.S. gold futures spiked Friday, a day after Switzerland was hit with 39% American tariffs on its goods, including 1-kilogram gold bullion bars.

New levies mark fresh blow for leading bullion exporter Switzerland

Imposition of 39% export rate described as ‘another blow’ to Switzerland’s world leading refining industry

A ruling from the U.S. Customs and Border Protection agency surprised gold markets on Friday, sending prices higher.

The price of U.S. gold futures spiked Friday, a day after Switzerland was hit with 39% American tariffs on its goods, including 1-kilogram gold bullion bars.