Gold futures reached a record high on tariff news.

Gold Futures jumped to a new record high as market volatility increased following news of the proposed imposition of an additional 10% tariff on imports from eight European nations. February Gold Futures reached a peak of 4,771.20 during the session, representing a significant 3.83% increase. This movement sparked a notable safety trade, which was further reflected by a 1.75% gain in the Swiss franc. While precious metals rallied, copper prices saw a small decline, suggesting a flight to quality. Global market shifts were also influenced by a spike in Japanese yields, with the 10-Year yield reaching 2.38%. This prompted capital repatriation as Japan sold U.S. treasuries, contributing to higher U.S. 10-Year and 30-Year yields.