White House to Clarify Gold Tariff Confusion
Breaking Update: August 8, 2025
The White House announced plans to issue an executive order aimed at “clarifying misinformation” that roiled the gold market. The move follows widespread uncertainty surrounding the new 39% tariffs on Swiss gold bars and the CBP ruling that reclassified certain imports.
Gold prices, which had spiked sharply after the tariff announcement, fell roughly $40 on the news of pending clarification - signaling that traders expect the order to ease market tensions. For investors, this could mean a reversal of the recent premium surges if the policy confirms exemptions or narrows the tariff’s scope.
Bullion Hunters will continue to track the situation closely, updating you on how the final order impacts premiums, sourcing options, and futures pricing - so you can make informed buying decisions with real-time dealer comparisons.
Major Import Shift for Gold Investors
The U.S. government has imposed a 39% tariff on 1-kilogram and 100-ounce gold bars imported from Switzerland - two of the most common sizes used for professional trading and COMEX futures deliveries. This sudden policy change, effective August 7, 2025, reclassifies these bars under a U.S. Customs tariff-eligible category, removing their previous exemption and sending shockwaves through the global bullion supply chain.
Swiss Refiners Face New Challenges
Switzerland’s gold refining industry - home to some of the world’s largest and most respected producers, such as PAMP, Valcambi, and Argor-Heraeus - may be forced to rethink its U.S. export strategy. These refiners, which have historically supplied a significant portion of the gold circulating in U.S. markets, could see:
- Reduced shipment volumes to avoid steep tariffs.
- Production shifts toward regions without similar import restrictions.
- Increased operational costs that may trickle down to wholesale and retail buyers.
The move impacts the entire supply chain, from major refiners to dealers and individual investors, by tightening access to some of the most sought-after bullion products.
Customs Ruling Adds Potential Retroactive Risk
A recent U.S. Customs and Border Protection decision - Ruling N351466: The tariff classification of cast gold bars from Switzerland - clarifies why 1-kilogram and 100-ounce Swiss bars are now tariffed. According to CBP, these bars are no longer classified as “unwrought” bullion due to the finishing steps applied after casting, such as stamping, laser-engraving, and needling. Instead, they are deemed “semimanufactured” gold, making them subject to the 39% tariff.
This reclassification could have costly implications for importers, as some past shipments may have entered under a tariff-free code. If reviewed, these entries might be liable for back duties under the April 2025 Reciprocal Tariffs policy, introducing an added layer of uncertainty for Swiss refiners, U.S. dealers, and the investors who depend on them.
What It Means for Bullion Dealers
Dealers in the U.S. who rely on a steady inflow of Swiss bars may need to adapt quickly. Possible strategies include sourcing more products from domestic mints or from countries without tariff penalties, and expanding offerings of alternative sizes and formats. However, these shifts are likely to influence premiums, availability, and delivery times.
Impact on COMEX and Gold Futures Pricing
COMEX, the leading exchange for gold futures, depends heavily on standardized kilo and 100-ounce bars for contract settlement. The new tariffs could:
- Push futures prices higher due to supply disruptions.
- Increase volatility as traders adjust to changing delivery costs.
- Prompt some market participants to explore other exchanges or settlement methods.
Following the announcement, gold futures surged to record highs - around $3,534/oz - signaling how quickly market sentiment can react to supply-side shocks.
Why This Matters to Investors
For everyday investors, these tariffs could mean higher premiums on certain gold products, reduced availability of specific bar sizes, and heightened gold spot price swings in the short term. Strategic buying - especially when comparing offers across multiple dealers - will become even more important in navigating the new landscape.
How Bullion Hunters Helps You Navigate These Changes
In a market environment where prices and availability can shift overnight, Bullion Hunters empowers you to make smart, confident buying decisions. Our platform lets you:
- Compare live prices on gold bars and coins across multiple trusted dealers.
- Identify the lowest premiums available for the products you want.
- Filter by size, weight, and design to find exactly what fits your portfolio.
- Review dealer ratings and shipping policies to ensure you buy from reputable sources.
By using Bullion Hunters’ tools, you can spot value even when market conditions tighten - and avoid overpaying when premiums rise.
The Road Ahead for Gold Buyers
While the full effects of these tariffs will unfold over the coming months, one thing is clear: the U.S. gold market is entering a period of adjustment. For investors, staying informed and using transparent, real-time comparison tools like Bullion Hunters will be key to adapting.
In times of change, knowledge is the most valuable asset you can hold. Whether you’re buying to diversify, hedge against inflation, or simply grow your collection, the right insights - and the right platform - can make all the difference.