off-the-wire

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

Kitco Media
By Reuters
Published:
Updated:
Reuters
Switzerland wants binding Trump commitment on gold tariffs, lobby group says teaser image

Aug 12 (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

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.