U.S. gold futures hit a record high on Friday amid uncertainty over whether country-specific U.S. import tariffs would apply to the most commonly traded sizes of gold bars. Spot prices, meanwhile, eased but remained on track for a weekly gain.

Gold futures hit an all-time high of $3,534 on Thursday after reports of the White House's plans to issue an executive order imposing tariffs on gold.

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.