At a historical high today (8.8.2025) the prices on the future fulfillment contracts arrived gold In the US, after reports that Washington imposed duties in the imports of 1kg gold bars, expanding the gap between the New York Future Fillings and Spot prices.
The news of the duties, which are strongly affecting Switzerland, led to the future gold contracts in the US for December 1% to $ 3,489.40, having reached a historic high of $ 3,534.10. The spot price of gold remained almost unchanged at $ 3,399.22 per ounce.
Gold is on the run for the second consecutive weekly rise, with an increase of about 1% so far this week.
The difference between future fulfillment contracts and the price spot increased to over $ 100 Financial Times reports that the US imposed duties on 1 kg gold bars importsciting a letter from the Customs Service and Border Protection of 31 July.
The letter stated that 1kg and 100 ounce bars should be classified under a customs code subject to higher duties, a move that, according to the newspaper, could significantly burden Switzerland, the largest reflection center in the world.
The difference between the future fulfillment contracts and the spots of prices last made a similar increase during the pandemic in 2020, when the gold supply chain between the two sides of the Atlantic caused a comparable disruption.
“The duty will surely disturb the gold trade and Switzerland will suffer the greatest impact. Natural gold premiums will probably increase and this could lead to higher prices for consumers, “said Zain Vawda, analyst at Marketpulse by Oanda. “This move could also create obstacles to the offer, which could push up the price of the spot gold.”
US President Donald Trump’s highest duties in imports from dozens of countries came into force on Thursday, resulting in significant commercial partners such as Switzerland, Brazil and India rushing to a better deal.
“I think we will see increased demand for safe shelters and increased uncertainty about gold supply to the US. Before the weekend, I expect that gold will remain high until the Trump government provides more information on the 39% duties imposed on one kilo’s gold bars, “said Bob Haberkorn, a senior Rjo Futures strategic analyst.
Gold, a traditional “safe haven”, is also reinforced by the expectations that the US Federal Bank will reduce interest rates next month.