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- US slaps tariffs on 1-kg, 100-oz gold bars
US slaps tariffs on 1-kg, 100-oz gold bars
[Gold Newsletter #275] Gold Price: $3,394.30 News: New York gold futures spike over spot price after tariff report, China's central bank extends gold purchases to ninth straight month in July
A summary of the most important gold news and analysis of the last week.
Gold price: $3,394.30 $XAUUSD ( 0.0% ) [View live gold price.]
Change from last week: $95.69 (2.90%)
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Gold news
"The United States has imposed tariffs on imports of one-kilogram and 100-ounce gold bars, in a move that could disrupt global bullion flows and deal a major blow to key gold hub Switzerland, the Financial Times reported late on Thursday."
• Ray Dalio warns US dollar devaluation may trigger gold standard comeback: 'History shows us that…' [Benzinga]
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• Official Reserve Revaluations: The International Experience [The Federal Reserve]
"With public debt at high levels, some governments have begun to explore financing additional expenditures without raising taxes while also not increasing public debt outstanding. One possibility is using proceeds from valuation gains on gold reserves, as has been floated in the U.S. and Belgium recently."
• Gold is back near a record high. Here's why the price of the precious metal is surging. [Investopedia]
• Why gold is ‘too strategic to fail’ – Agnico CEO on central banks, M&A discipline, and arctic power [Kitco]
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