Trump Administration May Clarify No Tariffs on Imported Gold, Reports Suggest

The Trump administration in the United States has indicated its intention to clearly state that it will not impose tariffs on imported gold. Bloomberg reported this on the 9th, citing official sources. Following this news, the New York gold futures market saw a reduction in its gains, while the global benchmark, the London spot gold price, declined. Currently, gold CFDs are trading at around $3,399 per ounce. The confusion was sparked by a statement from the U.S. Customs and Border Protection (CBP) on the 7th, which suggested that gold bars, whether in one-kilogram or one-hundred-ounce standards, should be classified under a customs code that subjects them to tariffs.