Gold Futures Surge After US Tariffs Amidst Economic Uncertainty and Crypto Concerns
The US imposed a 39% tariff on Swiss imports of 1kg gold bars, a move that sent gold futures to a record high. This decision followed a ruling letter clarifying that certain gold bar imports were not exempt from tariffs, impacting a major player in the global gold refining industry. Switzerland, a dominant force in gold exports, saw its exports to the US surge in the first quarter of 2025 as investors sought refuge in gold amidst trade uncertainties. The Swiss precious metals association noted this impact on trade balance and expressed concern over the economic viability of exporting gold to the US.
John Q. Hosedrinker