Gold futures jump to record high after US tariffs on cast bars – Gold(theguardian.com)
theguardian.com
Gold futures jump to record high after US tariffs on cast bars – Gold
https://www.theguardian.com/business/2025/aug/08/gold-futures-soar-to-record-high-after-reports-of-us-tariffs-on-swiss-bars
14 comments
The most transparent shakedown in history.
What does a trump have against Switzerland? We don’t make anything they want to buy so they should be punished?
Also why does he get to make trade policy via truth social? Everything is an emergency with him, including not having a monopoly on automatic watches.
Also why does he get to make trade policy via truth social? Everything is an emergency with him, including not having a monopoly on automatic watches.
One theory is general authoritarian bent against democracy and therefore desire to hinder more democratic countries to make them look less well functioning... indeed hitting Switzerland with much higher tariffs than even China is wild.
Average citizen on receipt of news that swiss business is impaired
A tax on the movement of Swiss gold is a tax on the wealthy.
I don't foresee this living long
I don't foresee this living long
2 days later, no tarrif on gold
https://truthsocial.com/@realDonaldTrump/posts/1150113256313...
https://truthsocial.com/@realDonaldTrump/posts/1150113256313...
Related:
US Adds Surprise Gold Bar Tariff in Blow to Switzerland
https://news.ycombinator.com/item?id=44834456
US Adds Surprise Gold Bar Tariff in Blow to Switzerland
https://news.ycombinator.com/item?id=44834456
For some values of "surprise".
https://www.reuters.com/markets/commodities/outflow-london-g...
https://www.reuters.com/markets/commodities/outflow-london-g...
I do not understand why such news would cause gold price to go up... What Trump is clearly aiming for is to replace gold with cryptocurrencies - that's why his recent moves to have his own coin, allow crypto in 401(k), push toward "crypto dollar", and now trying to limit gold inflow to US with tariffs. If this goes as planned then gold will become less relevant in global monetary system, so it should go down, right?
I have a simpler explanation: he's bought a bunch of bitcoins and uses his position to inflate its price. If it's true, at some point he'll decide to cash out and announce that he will make bitcoin illegal to drop its price back. Maybe he'll repeat this cycle a few times.
expected increase in scarcity - supply and demand
shipping gold is essentialy free right now, so
the "tariff" is a hint that MOVING gold will get extra expensive, making the gold in various places worth more, possibly much more
and Trump is most definitly, a, gold bug
with a magic toy