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Us surcharges: gold lights viewfinder::
The price of gold has reached a new record Friday in. Consequently, New York after press information that the United States will now impose customs duties on certain ingots. Nevertheless, For Switzerland, a high place in gold refining, this is a new blow.
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The United States could now tax imports of one kilo gold ingots. those of 100 ounces, the formats negotiated in New York, according to an article in the Financial Times on Thursday, which gives as a source of the American administration.
The market displays “its shock. confusion” – Us surcharges: gold lights viewfinder:
In the wake of its publication, the price of gold on the New York raw material stock market has reached a 3.534.10 dollars auce (31.1 g).
The market displays “its shock and confusion” in front of this unexpected news, Han Tan, analyst at Nemo.Money, told AFP.
Switzerland “risks a slap of 24 billion dollars”! – Us surcharges: gold lights viewfinder:
For Switzerland. a high place in gold refining, this is a new blow, while the Alpine country was inflicted on Thursday of heavy surcharge of 39% on its products imported us surcharges: gold lights viewfinder: into the United States.
Switzerland “often serves as a hub for refining between the London market, which is generally negotiated into 400 ounces (12.44 kg), and smaller sizes, mainly exchanged and accepted on the American market”, specifies Ole Hansen, analyst of Saxo Bank.
“During the past year, Switzerland sent $ 61.5 billion in gold across the Atlantic”, of which “two fifths pass through the United States,” said Innes.
It “is now risking a slap of $ 24 billion” of surcharge.
Taxation makes export not profitable
The Swiss association of manufacturers. traders of precious metals (ASFCMP) said on Friday worried about the repercussions regarding the American customs duties to gold.
This taxation makes export not profitable, she said.
This applies to Switzerland but also to ingots from any country, adds the professional association. This “fears” that this “specific provision affects the international flow of us surcharges: gold lights viewfinder: physical gold”.
ASFCMP remains engaged in a “constructive dialogue”
The organization says it recognizes “the impact to short-term of gold on the trade balance at the beginning of 2025. which was an exceptional situation created by the reaction of the US markets to uncertainty around future customs and the global geopolitical situation”.
The fact that the situation “was completely reversed in April illustrates this point perfectly.”
The ridge specifies that the taxation of gold taxes “makes its export to the United States economically non-viable. thus eliminating any future trade deficit” to exports of this precious metal.
The ASFCMP says it is engaged in a “constructive dialogue. oriented towards solutions” with the American authorities and international partners “in order to ensure a fair, practical and predictable commercial environment” for all parties.
She also discusses with the Swiss authorities. the London Bullion Market Association (LBMA), the World us surcharges: gold lights viewfinder: Gold Council (WGC) and key American entities, while recalling that the sector “does not depend” that on the only “important” Statesunian market.
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Further reading: For the time being spared by customs duties, the Swiss Pharma has two months to lower its prices and satisfy Donald Trump – Direct – Trump accuses Switzerland of “flying 40 billion per year” – Bern: an earthquake of 4.2 was felt near Interlaken – “Rain of the century” and Mercury at half mast: summer in Switzerland takes a break … also in August? – Full box for the August 1 brunch in Delley.
