Aug. 8 at 3:55 PM
Rumour: US has put tariffs on imports of 1-kg gold bars, threatening turmoil in the global bullion market & dealing a trade blow to Switzerland.
Bullion traders had expected gold bars of 1-Kg or 100-oz to be exempt from President Trump’s other tariffs
1-Kg gold bars are the most common form traded on Comex, the world’s largest gold futures market, & comprise the bulk of Switzerland’s bullion exports to the US
Managers at 2 major gold refineries in Asia are pausing shipments to the US until there is more clarity on the tariffs.
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