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Reports of a new US Tariff on Bullion Send Gold Flying
According to The Financial Times, “The US has slapped tariffs on imports of one-kilo gold bars.” The bombshell article published at approximately 4:30 PM ET, this information came in the form of a ruling letter dated July 31 from The US customs Border Protection agency reportedly received by a Swiss refinery following a formal request for clarification on what types of gold products if any would be exempt from tariffs. Earlier this month Switzerland was one of the unfortunate countries to be slapped with abnormally high tariff rates. These countries are primarily smaller nations that conducted very little trade ... (full story)
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A US move to put tariffs on imports of one-kilogram and 100-ounce gold bars threatens to upend trade flows from Switzerland and other key refining hubs including London and Hong Kong and sent gold futures in New York surging to a record high. Brendan Murray reports on Bloomberg Television.
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From home.saxo | Aug 8, 2025
Gold futures on the COMEX exchange in New York soared overnight relative to the London spot price after an article in the Financial Times suggested the US would now—counter to expectations—apply tariffs on imports of 1 kg and 100 oz bars adding a fresh blow to Switzerland, the world’s largest refining hub. One-kilo bars are the most common form traded and ...
