A gold embargo refers to a governmental restriction on the export and import of gold. This can negatively impact the global economy and the precious metal market. However, there are several synonyms that can be used to describe a gold embargo. For instance, it can be referred to as a gold freeze, gold blockade, gold boycott, or a gold prohibition. All these terms signify a restriction or ban on the trade of gold. Governments may implement a gold embargo for a variety of reasons including to control inflation, stabilize the economy, or to prevent the depletion of their country's gold reserves.