Switzerland wants binding Trump commitment on gold tariffs, lobby group says

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August 12, 2025 6:43 AM EDT

FILE PHOTO: Gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File Photo

(Reuters) -U.S. President Donald Trump's statement on not putting tariffs on gold has sent an encouraging signal for trade stability but only a formal decision will provide certainty, the head of the Swiss precious metals association ASFCMP said on Tuesday.

Trump on Monday said he would not impose tariffs on gold, a move welcomed by global bullion markets and which ended days of speculation that the yellow metal could be caught up in the ongoing global trade spat.

"President Trump's statement is an encouraging signal for trade stability," said Christoph Wild, president of the ASFCMP, in a statement.

"However, only a formal and binding decision will provide the certainty the gold sector and its partners require."

(Writing by Matthias Williams, Editing by Rachel More)


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