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3w ago

U.S. Tariffs on Standard Gold Bars Drive Record Futures Prices

Overturning a decades-old tariff exemption for standard gold bars has raised alarms over global supply chains.

Lingotes de oro.
El oro en Estados Unidos alcanzó su valor más alto tras la aplicación de aranceles a lingotes de un kilo y 100 onzas por parte de la Casa Blanca
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Overview

  • The CBP reclassified one-kilogram and 100-ounce gold bars on July 31 under a dutiable tariff code imposing levies from 10% to 50%, including a 39% charge on Swiss imports.
  • The new duties took effect August 7–8 and sent U.S. gold futures to an intraday record of $3,534 per ounce on Comex.
  • Swiss Precious Metals Association head Christoph Wild warned that the tariffs could complicate bullion supply into the United States and unsettle global trade.
  • Analysts at UBS caution that higher import costs threaten New York’s Comex dominance by spurring a shift of futures liquidity to alternative venues or instruments.
  • Some market participants believe the CBP decision may be reversed after legal challenges and diplomatic negotiations.