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SHOCKING TURN OF EVENTS! US Slaps Tariffs on Gold Bars – Will the Global Market Survive?!

BOMBSELLER ALERT: The US has dropped a bombshell, unleashing tariffs on one-kilo gold bars that could send shockwaves through the entire bullion market! Switzerland, known as the gold kingpin of the globe, is gearing up for a massive hit as these changes threaten to derail its booming trade!

The Customs Border Protection agency has declared war on gold, declaring that these popular one-kilo and 100-ounce gold bars must now face heavy tariffs! This shocking ruling — revealed in a letter dated July 31 — has blindsided traders and sent chaos rippling through the industry.

TERRIFYING TURBULENCE: Just when the gold trade believed it was safe, the US flipped the script. Instead of enjoying benefits from previous exemptions, they face the reality of a devastating new classification code that slaps hefty levies on prized gold! The one-kilo bars, the darling of the gold community and the backbone of Swiss exports to the US, are now in the crosshairs!

DIPLOMATIC DISASTER: Relations between Washington and Bern are at an all-time low. Just last week, the US revealed a staggering 39% tariff on imports from Switzerland! This is a colossal blow to the Swiss gold trade – with Christoph Wild, the president of the Swiss Association of Manufacturers and Traders of Precious Metals, calling it a “devastating hit” to their gold demands.

Earlier this year, traders were already racing against time to stock up on gold ahead of Trump’s so-called “liberation day” tariffs, creating a stockpile frenzy on the prestigious Comex market. But think that’s where the madness ends? Not a chance! When those tariffs were announced, exemptions were expected, especially for large gold bars! Talk about a cruel twist!

GOLD RUSH GONE WRONG: The global flow of gold typically resembles a high-stakes game — with precious bars zipping from London to New York, taking a pit stop in Switzerland for a makeover! While London uses monster-sized 400 troy ounce bars, New York prefers the sleek one-kilo bars which are the size of your average smartphone. But now, it’s all turned upside down!

GOLD HIT A RECORD HIGH: Booming demand has pushed gold prices to incredible levels: a whopping 27% surge this year alone, touching an astonishing $3500 per troy ounce! But as inflation fears loom large and US dollar stability wavers, will this new tariff spell disaster for gold lovers everywhere?

SWISS EXPORTS IN JEOPARDY: In the last year, Switzerland exported a jaw-dropping $61.5 billion worth of gold to the US. With this new tariff in effect, an additional $24 billion could be slapped on those gold shipments! Wild warns that this is a total game-changer!

Swiss refineries are stuck in a legal nightmare, scrambling to figure out which products could escape the tariff mayhem. Two of them have even been forced to hit the brakes, reducing or stopping shipments to the US amidst all this confusion!

In a nutshell, this catastrophic ruling isn’t just a minor hiccup; it’s a trembling quake that threatens the very fabric of the gold market! Will traders adapt and survive this onslaught, or will gold trading face ruin? Only time will tell, but one thing’s for sure: the stakes have never been higher!

photo credit: www.ft.com

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