Gold has updated a record against the background of new US duties on Swiss bullion

Gold prices jumped to a historic high of $ 3,534.1 per ounce after the announcement of the introduction of U.S. import duties on gold bars weighing 1 kg from Switzerland. Later, the quotes dropped to $3484.5, which is still 0.9% higher than the previous closing level.

The US Customs and Border Protection unexpectedly classified kilogram and 100-ounce bars as goods subject to duties, as part of the Trump administration's July decree. Previously, it was assumed that they were exempt from tariffs.

Kilogram bars are the standard of trading on the Comex exchange and the main form of supply from Switzerland to the United States. Now exports will be under attack. Relations between the two countries deteriorated after the recent US decision to impose 39% duties on a number of Swiss goods.

Christoph Wild, president of the Swiss Association of Precious Metals Manufacturers, said that the industry had not expected such a move, and called it «another blow» to trade between the countries.