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2025-09-18 17:41:10
Swiss gold exports to the US plummeted in August. (1) Customs data showed that Swiss gold exports to the US plummeted by over 99% month-over-month in August, falling to 0.3 tons. This was after a US ruling requiring reciprocal tariffs on one-kilogram and 100-ounce gold bars caused market turmoil and brought gold exports to a near standstill. (2) The White House subsequently stated it would "clarify" the "misinformation" regarding the tariffs, and a week later, Trump declared on social media that "gold will not be taxed!" However, the tariff exemption for gold bars did not officially take effect until early September, allowing gold trade to resume. (3) Overall, Switzerland's total exports to the US fell 22% month-over-month in August, and total gold exports fell 19% to less than 105 tons, seasonally adjusted.
