Quentin Mai, CEO of West Point Gold, has discussed a record-setting gold prices and the US dollar strength on ‘Varney & Co.’.
We Gold futures The Trump administration reached a record high on Friday amid uncertainty when the country-specific import tariffs were applied to the most trading sizes of gold bars.
Washington can keep the most widely trading gold bullion bar in America Country-specific tariffAccording to a decision on the US Customs and Border Security Service website.
The decision came as a blow to the global supply chains for the metal and contributed to the increase in gold futures as the markets reacted to its potential impact on the American role in the Gold Futures Market.
The December US Gold Futures season rose $ 3,494.10 an ounce until late morning after hitting the first $ 3,534.10 in the session, when the Financial Times first reported the news.
Gold Rush 2.0: Americans cash in the form of precious metal near all-time high
US Gold Futures increased to high records on uncertainty on the impact of tariffs on gold imports. (Photographer: Cris Ratcliffe / Bloomberg Getty Image / Getty Image)
“Gold’s panic climb shows that even safe haven assets are not immunity to instability of confusion Tariff age“Haragrevs said in a Reuters report, Susanna Streater, the head of the market and the head of the market in Lansdowne.
“If there is no follow-throat and no interference, it can threaten New York He said that dominance in the Gold Futures Market, prices have increased rapidly than other trading centers.
Trump ‘Liberation Day’ mutual tariffs are effective
Gold bullion imports will be subject to tariffs under CBP’s decision. (Reuters / Mike Siger (United States) / Reuters Photos)
Spot prices decreased by $ 3,394 an ounce, but are 0.9% above the week. The spread between American gold futures and spot prices widened, currently sitting at $ 100.
Analysts said that they are waiting for more clarity on the issue, saying that an American tariff could be quite a lot on the delivery of gold. Effect SwitzerlandWhich is the world’s major center for gold refinement and transit.
Swiss goods are subject to our import tariffs of 39%, and the country continues to interact with the US about reducing levy.
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The Swiss precious metals association expressed concern about the impact of tariffs on the gold industry, saying it is in an active dialogue with stakeholders on the subject.
Reuters contributed to this report.
