Clear the landscape seems to want the Trump government as Bloomberg says it will issue a new decree to clarify that rod imports gold they should not face duties.
The statement from the White House follows the Rally of the Chrysos market which was caused after the US Customs Service surprised the traders by saying that the one kilo rods would be subject to duties.
The government intends to publish an executive decree in the near future to clarify what has called misinformation about the tariffing of gold and other special products, a White House official told Bloomberg in a written statement.
The prices of the New York COMEX contracts have reduced profits and the global reference for spot prices in London fell after the White House statement. The price difference between the two main trading knots collapsed below $ 60 per ounce, having previously jumped over $ 100 in response to the original tariff shock.
The chaos that shocked gold bars in the last 24 hours came after details of the US Customs Service and border protection decision, according to which the one -kilo of gold and 100 ounces are subject to the so -called mutual duties. The decision, which was posted on the service website, came at the request of a Swiss processing laboratory for clarity on contributions. Such a directive would bring sweeping consequences for gold rods around the world and could disrupt the operation of the US contract of future fulfillment.
Wall Street shares related to gold also declined quickly after the White House statement, with the largest gold mining shares, including Newmont and Agnico Eagle Mines immediately deleting earlier profits, as well as the Gold Franco-NEVADA rights provider and the Gold Gold Golds. Etf.
Gold has a unique role as a financial asset and global currency, which makes it different from copper, steel and aluminum – other metals affected by Trump’s duties. The missions froze in response to the decision that gold imports would face US duties, traders said earlier on Friday.
An order of the White House that will clarify its position would serve the overthrow of chaos on the market caused by fears of imposing gold imports.
Trump government officials have repeatedly sworn in that the duties of the President’s second term will not be marked by exceptions, as a series of exceptions granted in the first four years of his term were considered to be undermined the effectiveness of previous contributions.