{"id":125699,"title":"Gold Futures Hit Record High as U.S. Slaps Tariffs on Swiss Gold Bars","publisher":"Share Talk","author":"sharetalk","published":"2025-08-08T07:27:19+00:00","modified":"2025-08-08T07:27:19+00:00","canonical_url":"https://www.share-talk.com/gold-futures-hit-record-high-as-u-s-slaps-tariffs-on-swiss-gold-bars/","markdown_url":"https://www.share-talk.com/gold-futures-hit-record-high-as-u-s-slaps-tariffs-on-swiss-gold-bars.md","json_url":"https://www.share-talk.com/gold-futures-hit-record-high-as-u-s-slaps-tariffs-on-swiss-gold-bars.json","category":"B2B","categories":["B2B","Blogs","Mining"],"tags":["COMEX","EU","futures","Gold","Gold Bars","Laos","Market","MYANMAR","Swiss","Switzerland","Syria","UK","United States"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/03/gold-14th-march.webp?fit=1200%2C800&quality=80&ssl=1","format":"news","language":"en-GB","content":"Gold futures surged to an all-time high on Friday following a *Financial Times* report that the United States has imposed surprise tariffs on imports of one-kilo gold bars—a move likely to escalate trade tensions with Switzerland, one of the world’s key precious metal hubs.\n\nAccording to a letter seen by the *FT* from U.S. Customs and Border Protection, both one-kilo and 100-ounce gold bars are now to be classified under a customs code subject to higher tariffs. One-kilo bars, the preferred format on COMEX—the world’s largest gold futures market—represent the majority of Switzerland’s bullion exports to the U.S.\n\nU.S. gold futures climbed 1.3% to $3,499.30 after hitting a record high of $3,534.10. The spread between New York futures and spot gold prices widened by roughly $100, reflecting market dislocation triggered by the tariff move.\n\nThe development is a significant blow to Switzerland, which now faces a 39% U.S. export tariff—one of the steepest under President Trump’s trade war policies. Only Laos, Myanmar, and Syria face higher rates, at 40–41%. In contrast, the EU and UK have negotiated far lower tariffs of 15% and 10% respectively.\n\nSwitzerland exported $61.5 billion worth of gold to the U.S. in the 12 months to June. Under the new tariff regime, that trade flow could incur an additional $24 billion in duties, according to *FT* estimates. The tariffs took effect on Thursday."}