Gold price after Trump tariffs 1kg/100 oz. Swiss gold bars?

[uncletiger]

So I have been struggling to understand the implications of Trump tariffing gold bullion from Swiss refineries. It seems obvious this will have some impact on gold prices, but it's unclear exactly what it means. Switzerland is responsible for well over half of the gold bullion refined in the world. Suddenly making this bullion 39% more expensive in the USA is going to have some kind of an impact. I'm assuming it can be remelted and refined outside of Switzerland to avoid the tariffs, but are there any exchanges that process gold contracts for non Swiss gold? Obviously there is the COMEX and the LBMA, but there have been rumors they are having trouble delivering recently. Banks and the ultra wealthy looking for a physical store of value would seem to be the most affected. In this an initial move to prevent US citizens from running to gold during a revaluing of the USD?

 

Honestly this is outside my wheelhouse, and I'm looking for someone with insights on what this means for the gold price here in Thailand/globally. Any thoughts on how this will play out in the global economy?

 

[howerde]

I was wondering the same, the only thing that makes sense to me at the moment, i asked chatpt it came up with this. but what it means for the global gold market, i have no idea, though can't imagine it will have any effect, unless you are gold finger or some Billionaire 

 

 

3. Sanctions Evasion or Traceability Concerns

Switzerland is a major hub for refining and exporting gold, including gold that may have originally come from sanctioned countries (e.g., Russia, Sudan, etc.). If the U.S. suspects that Swiss gold may contain traces of origin from sanctioned sources, it may:

• Impose tariffs or restrictions to increase traceability and due diligence requirements.

• Discourage U.S. buyers from relying on refineries or supply chains that aren’t fully transparent.

This wouldn’t be a tariff against Switzerland per se, but a compliance-driven trade action.

[uncletiger]

21 minutes ago, howerde said:

I was wondering the same, the only thing that makes sense to me at the moment, i asked chatpt it came up with this. but what it means for the global gold market, i have no idea, though can't imagine it will have any effect, unless you are gold finger or some Billionaire 

 

 

3. Sanctions Evasion or Traceability Concerns

Switzerland is a major hub for refining and exporting gold, including gold that may have originally come from sanctioned countries (e.g., Russia, Sudan, etc.). If the U.S. suspects that Swiss gold may contain traces of origin from sanctioned sources, it may:

• Impose tariffs or restrictions to increase traceability and due diligence requirements.

• Discourage U.S. buyers from relying on refineries or supply chains that aren’t fully transparent.

This wouldn’t be a tariff against Switzerland per se, but a compliance-driven trade action.

 

I'm not sure ChatGPT understands what is going on. This *IS* a tariff directly against Swiss bullion. And only 1kg and 100oz bars used in the financial industry that are stamped by Swiss refineries. It's not a compliance driven trade action. It's a 39% tariff directly on Swiss gold. It's irrelevant where the gold originated.

 

https://www.ainvest.com/news/imposes-39-tariff-swiss-gold-bars-disrupting-global-market-2508/

[howerde]

1 minute ago, uncletiger said:

 

I'm not sure ChatGPT understands what is going on. This *IS* a tariff directly against Swiss bullion. And only 1kg and 100oz bars used in the financial industry that are stamped by Swiss refineries. It's not a compliance driven trade action. It's a 39% tariff directly on Swiss gold. It's irrelevant where the gold originated.

 

https://www.ainvest.com/news/imposes-39-tariff-swiss-gold-bars-disrupting-global-market-2508/

ii matters where the gold comes from, as Switzerland is the worlds leading refiner, perhaps they are smelting Russian gold on an industrial scale and stampingit from elsewhere, just a guess on my part, i am sure we will find out in the end

[swissie]

3 hours ago, uncletiger said:

So I have been struggling to understand the implications of Trump tariffing gold bullion from Swiss refineries. It seems obvious this will have some impact on gold prices, but it's unclear exactly what it means. Switzerland is responsible for well over half of the gold bullion refined in the world. Suddenly making this bullion 39% more expensive in the USA is going to have some kind of an impact. I'm assuming it can be remelted and refined outside of Switzerland to avoid the tariffs, but are there any exchanges that process gold contracts for non Swiss gold? Obviously there is the COMEX and the LBMA, but there have been rumors they are having trouble delivering recently. Banks and the ultra wealthy looking for a physical store of value would seem to be the most affected. In this an initial move to prevent US citizens from running to gold during a revaluing of the USD?

 

Honestly this is outside my wheelhouse, and I'm looking for someone with insights on what this means for the gold price here in Thailand/globally. Any thoughts on how this will play out in the global economy?

 

Well, the Price of Gold (internationally) showed no reaction to the tariff announcement so far.