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Trump Eases Gold Market Fears, Keeps Tariffs Zero

8/12/2025

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Summary

Trump Stabilizes Gold Market

President Trump has calmed market fears by declaring that imported gold bars will remain tariff-free, countering a previous U.S. Customs ruling that hinted at a staggering 39% tariff on Swiss gold. In response, gold prices dipped, with December futures closing at $3,404.70 per ounce, as the administration seeks to stabilize the market amid rising trade tensions and inflation worries.

Summary

Gold Prices Surge

Gold prices are set to soar to $3,460 per ounce next week, fueled by escalating geopolitical tensions and economic shifts. The anticipated Trump-Putin meeting and new U.S. tariffs on India are pivotal factors. Moreover, the nomination of Stephen Mirae as Federal Reserve Governor could pave the way for lower interest rates, boosting gold's allure.

History

Historical Context

In 1933, President Franklin D. Roosevelt enacted the Gold Reserve Act, requiring citizens to surrender gold to the U.S. Treasury, which fixed gold prices at $35 per ounce. This aimed to stabilize the economy during the Great Depression. Today, President Trump's tariff-free declaration on Swiss gold reflects ongoing market dynamics influenced by historical interventions and current inflation concerns.

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Trump Stabilizes Gold Market

President Trump has calmed market fears by declaring that imported gold bars will remain tariff-free, countering a previous U.S. Customs ruling that hinted at a staggering 39% tariff on Swiss gold. In response, gold prices dipped, with December futures closing at $3,404.70 per ounce, as the administration seeks to stabilize the market amid rising trade tensions and inflation worries.

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