To: bull_dozer who wrote (215811 ) 8/7/2025 10:36:38 PM From: TobagoJack Respond to of 217619 Re <<>> The F*CKING F*CKS Got a Nut? >> … oooohhhhbloomberg.com US Adds Surprise Gold Bar Tariff in Blow to Switzerland, FT Says Yihui Xie August 8, 2025 at 7:49 AM GMT+7 The US government has placed tariffs on imports of one-kilogram gold bars, threatening to shake up the bullion market and dealing a blow to Swiss trade, the Financial Times has reported . The industry had expected gold bars to be classified under customs codes exempt from President Donald Trump’s country tariffs. However, Customs Border Protection has placed one-kilo and 100-ounce gold bars under a code that is subject to the levies, the newspaper reported, citing a ruling letter dated July 31. One-kilo bars are the most common form traded on Comex, the world’s largest gold futures market, and comprise the bulk of Switzerland’s bullion exports to the US, the FT said. The news drove a spike in the premium for gold futures in New York over the spot price as markets opened in Asia on Friday. Contracts for December delivery jumped to more than $100 an ounce above the global benchmark for spot prices in London. Gold Set for Biggest Weekly Gain in a Month on Fed Governor Pick Gold was on track for its biggest weekly climb in a month as a slew of US tariffs came into effect and as President Donald Trump named a temporary Federal Reserve governor expected to echo his calls for lower interest rates. The precious metal traded near $3,400, eyeing a 1% weekly gain. Trump on Wednesday said he has chosen Council of Economic Advisers Chairman Stephen Miran to fill the seat of Fed Governor Adriana Kugler, but only until January. The search for a permanent replacement would continue, he said. The Bloomberg Dollar Spot Index erased its daily gains on the news. Miran has been a sharp critic of the central bank, echoing the president’s calls for easier monetary policy. Lower rates typically benefit gold which doesn’t pay interest. Separately, the premium for gold futures in New York jumped after the Financial Times reported the US has imposed tariffs on one kilo bullion bars . The report came against a backdrop of growing market nerves over trade tensions with India, Brazil and other partners. Gold was slightly lower at $3,393.85 as of 8:48 a.m. in Singapore. Palladium and platinum fell, while silver was steady.