US hits one-kilo gold bars with tariffs in blow to refining hub Switzerland | Metals Mine

  • US hits one-kilo gold bars with tariffs in blow to refining hub Switzerland

    From report.az

    The US has slapped tariffs on imports of one-kilo gold bars, in a move that threatens to upend the global bullion market and deal a fresh blow to Switzerland, the world’s largest refining hub, Report informs via The Financial Times. The Customs Border Protection agency said one-kilo and 100 ounce gold bars should be classified under a customs code subject to levies, according to a so-called ruling letter dated July 31, which was seen by the Financial Times. Ruling letters are used by the US to clarify its trade policy. The CBP’s decision stands in sharp contrast with the industry’s previous expectations that ... (full story)

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Fadhl
Aug 8, 2025 8:55am
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The US is in the last phase of self-destruction, moving from a liberal democracy to a king autocracy.
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Chancy
Aug 8, 2025 4:07am
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Wondering when something like this would occur. After all the US confiscated all gold bullion and coins in 1933. they did pay for it at $20.67. Then in 1934 bumped it up to $35 an ounce.
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here2there
Aug 8, 2025 11:53am
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Quoting Chancy
...the US confiscated all gold bullion and coins in 1933. they did pay for it at $20.67. Then in 1934 bumped it up to $35 an ounce.
That was a wicked thing to do. Greedy and selfish
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Chancy
Aug 8, 2025 12:28pm
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Quoting here2there
{quote} That was a wicked thing to do. Greedy and selfish
Well it certainly didn't go down too well. The wiki article makes interesting reading. Including a Swiss banking Company which was knobbled. History has repeated itself, it does but not in the exact selfsame way.
https://en.wikipedia.org/wiki/Execut...ed%20States%22.
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Schultz
Aug 8, 2025 11:23am
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Quoting Fadhl
The US is in the last phase of self-destruction, moving from a liberal democracy to a king autocracy.
Technically, both a King (Monarch) and a President hold the same function as being the head of the Executive/Administrative arm of government.

Modern monarchs are relatively harmless. Possibly the most well known one is that of the UK, with King Charles. There are many others.

They are heads of state, but have little or nothing to do with the daily running of the country.

Maybe not all - I don't know much about the middle eastern kingdoms.
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Schultz
Aug 8, 2025 12:36pm
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Quoting Chancy
{quote} Well it certainly didn't go down too well. The wiki article makes interesting reading. Including a Swiss banking Company which was knobbled. History has repeated itself, it does but not in the exact selfsame way. https://en.wikipedia.org/wiki/Execut...ed%20States%22.
Wasn't there a whole matter of getting official gold reserves audited, about a year or so ago? Was that Trump?

The angle being that the confiscated gold was never returned and is now and always has been registered as official reserves. Something like that.

edit - this, from the Wiki link (but I think that there is more to the story) -

The US Treasury also came into possession of a large number of safe deposit boxes due to bank failures. During the 1930s, over 3000 banks failed, and the contents of their safe deposit boxes were remanded to the custody of the Treasury. If no one claimed the box, it remained in the possession of the Treasury. In October 1981, there were 1605 cardboard cartons in the basement of the Treasury, each carton containing the contents of one unclaimed safe deposit box.
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Schultz
Aug 8, 2025 12:21pm
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Quoting here2there
{quote} That was a wicked thing to do. Greedy and selfish
Oh, could be worse - the US had just been through about a whole decade or so of prohibition....
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BaliBoyz80
Aug 8, 2025 4:52am
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Mybe gold will down and deep, with tariff, gold not "special items "anymore. Maybe..
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ME-Trader
Aug 8, 2025 1:05am
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Bullish for Gold
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ap8exchange
Aug 8, 2025 3:23am
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what happen to US nowadays...
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raymondtayli
Aug 8, 2025 3:29am
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Becareful!! The market is BUY!! wait for rebound .Today is FLY DAY
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Lashaun
Aug 8, 2025 4:18am
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why does the US have it hard on for the Swiss? Whats Trumps beef?
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nazimali
Aug 8, 2025 8:17am
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is it bull or bear for gold today if its bull then where we put the order limit to buy ?
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Trader#4501
Aug 8, 2025 8:42am
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Whatever happaned with gold this is beginning of the end of US market.. degrading any imp[act of us on global econonomu just to stabilize markets, great gambler just lost the game just don't know it yet, or maybe he is..
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sh.hossan020
Aug 8, 2025 8:47am
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sharing done
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talukdarbd
Aug 8, 2025 8:51am
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Quoting nazimali
is it bull or bear for gold today if its bull then where we put the order limit to buy ?
recent support
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Jhoi
Aug 8, 2025 9:06am
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I like this turn of events. Will Gold still hold it's power as a safe haven?
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javsalo
Aug 8, 2025 9:08am
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buy limit @ 1400
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Trader#BD00
Aug 8, 2025 2:56am
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bullish or bear?
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Trader#A306
Aug 8, 2025 4:54am
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This size is ideal for money laundering. Trump was right to impose this tariff on a well-known illicit activity facilitated by Swiss smelters.
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Trader#34DA
Aug 8, 2025 5:44am
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Sucks for US consumers.
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Trader#485A
Aug 8, 2025 7:18am
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buy or sell
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Trader#5A3C
Aug 8, 2025 7:29am
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is it bad for CHF or good?
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Trader#AAB1
Aug 8, 2025 8:14am
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is it bull oR bear for gold today if its bull for gold then where is the order limit to buy gold?
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