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On Friday, after the Financial Times reported that contracts with the US gold time recorded a historical maximum, after the Financial Times reported that the Trump government has imposed duties on one golden bars.
Contracts with proposals, negotiations in COMEX, the largest gold market in the world, increased by 0.9% to $ 3,484.60 per ounce at about 11 a.m. Cyprus time. This happened after the maximum for the entire time when the future execution is 3534.10 US dollars.
FTS said that they saw a letter from the US Customs Service of July 31, which said that gold in one kilogram and 100 ounces should be classified in the customs code that is subject to contributions. Investors previously expected that these types of gold bars would be excluded from Trump’s duties.
In April, Washington excluded metals such as gold, silver and platinum from US wide imported duties, reducing the price of contracts with the time of Comex time, as investors suppressed the proposal.
Prior to this, traders bought cheaper foreign gold and brought it to the United States, using the advantages of temporary contracts in the United States and other tests.
Until now, this year, contracts for the time of COMEX gold have grown by almost 34%, since investors adapt to geopolitical uncertainty, considering gold as a safe place to park their money.
In times of instability, gold is considered a safe asset, because its cost is less volatile than other investments, even when coins fall.
“It is supported by factors such as its powers as a safe refuge and weakening of the dollar in 2025 – this last development will force gold mistakes to look at the level of $ 4,000,” said the head of financial analysis AJ Bell Danni Hewson on Friday.
“This news is even more bad news for Switzerland, which was struck by 39% shock for export in the United States, as this is one of the largest valuable metals in the world,” she added.
Gold is one of the most important exports of Switzerland to the United States, and the country sent about 61.5 billion dollars (52.8 billion euros) of gold in the United States for 12 months that expired in June.
The tariff report is a new blow to Switzerland after the US government declared 39% for export last week.
Switzerland President Karin Keller-Satter and other senior officials went to Washington on Tuesday to try to reduce the tariff rate, one of Trump’s highest obsessive governments.
The new rate is more than 2.5 times higher than the one that is imposed on the products of the European Union exported in the USA and is almost four times higher than the one that is imposed on British export.
It is also cooler than the 31% rate proposed by Trump for Swiss products, when in early April he announced that in early April he announced that in early April.
Until now, the strong pharmaceutical industry of Switzerland, which in recent months has promised large investments in the United States over the past problems, is excluded from 39%.