Markets React to Clarification Plans on Gold Tariffs
Gold futures fell Friday from a record high after the White House announced it would move to clarify what it described as “misinformation” regarding tariffs on gold bars and other specialty products. A White House official told CNBC that an executive order addressing the matter will be issued in the near future.
The precious metal had closed at an all-time high of $3,491.30 before the announcement. Following the statement, prices eased to $3,463.30 as traders assessed the potential impact of the upcoming clarification on global gold trade.
Swiss Industry Warns of Trade Disruptions
Earlier in the day, the Swiss Precious Metals Association warned that U.S. tariffs could disrupt the international flow of physical gold. Switzerland, the world’s largest gold refiner, exports significant volumes to the United States and has longstanding commercial ties with the American market.
“We are particularly concerned about the implications of the tariffs for the gold industry and the physical exchange of gold with the U.S., a long-standing and historical partner for Switzerland,” said Christoph Wild, president of the association. The group highlighted that tariffs risk undermining established supply chains and commercial relationships.
Tariffs Cover Key Gold Bar Sizes
President Donald Trump’s trade measures currently impose a 39% tariff on Swiss exports to the United States. This week, U.S. Customs and Border Protection confirmed that 1-kilogram and 100-ounce gold bars are not exempt from the tariffs. The Swiss Precious Metals Association noted that the policy applies not only to Switzerland but to all gold bars of those sizes imported into the U.S. from any country.
The clarification has raised concerns in the precious metals sector about higher costs for importers and potential shifts in global gold trading patterns. Analysts say the situation remains fluid until the White House releases the promised executive order.
