Delivery gold futures in December reached US $ 3,534.1. After reaching that level, the highest in its history, the rise was reduced to 1.1%, standing around US $ 3,491.60.
He gold He marked this Friday new historical maximums above US $ 3,500after the imposition of tariffs of 39% to the bars of one kilo and 100 ounces by the government of USA.
Delivery gold futures in December reached U $ 3,534.1. After reaching that level, the highest in its history, the rise was reduced to 1.1%, standing around the U $ 3,491.60.
US would impose tariff to gold imports
The milestone occurred after Financial Times inform that the United States imposed Tariffs to imports of gold bullion of one kilo and 100 ounceswhich constitute most of Switzerland’s bull exports to the country and are now subject to US import tariffs of 39%. While the half cites a customs letter and border protection, the US administration has not yet pronounced about it.
As explained by XTB analysts, “This situation already happened this year in other assets, as was the case with copper”. “American investors and international exporters are taking advantage of the rumors of these tariffs to send gold goods to the United States before the possible entry into force of these taxes, which is increasing their demand in the North American country and, therefore, their price,” they emphasize.
However, some gold refineries, including a great Swiss entity, They paused the deliveries of gold bullion to the United States due to uncertainty about whether they will apply to their metal specific import tariffs for each countrytwo sources familiar with the matter told Reuters.
Gold bullion.webp
The customs service indicated that the correct code to be used when sent to the United States of 1 kilo gold and 100 ounces of Troy – the most negotiated sizes in the American futures market – would be 7108,13,5500 and not 7108.12.10.
However, Washington included in April only this last code in the list of products excluded from its specific import tariffs from each country, and 7108,13,5500 did not appear on the list.
The Swiss Association of Precious Metal Manufacturers and Merchants (ASFCMP) He said in a statement that the clarification does not apply exclusively to Switzerland, but to all the 1 kg cast gold and 100 ounces imported to the United States from any country.
“The United States is a long -standing market for us, so this is a blow to the industry and for Switzerland,” Christoph Wild, president of the ASFCMP, told Reuters.
Source: Ambito
