Overview

• President Trump posted on Truth Social that gold imports will not face tariffs, overturning a CBP ruling that had applied a 39% duty to 1-kilogram and 100-ounce Swiss bars.
• The White House called reports of gold tariffs “disinformation” and said an executive order will resolve ambiguity over bullion’s customs classification.
• Gold futures tumbled about 2.4% to $3,406 per ounce and spot prices fell roughly 1.3% after the president’s statement tempered the earlier surge to record highs.
• The now-reviewed CBP decision stemmed from a classification request by a Switzerland-based precious-metals broker, highlighting how administrative rulings can trigger market swings.
• Swiss Precious Metals Association warned that inconsistent tariff treatment could disrupt the international flow of physical gold and complicate exchange-delivery operations.