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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."

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"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."

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