As recently as Friday, the Financial Times reported that the punitive tariffs of 39 percent would also be extended to the import of 1-kilo gold bars. The newspaper cited a «Ruling Letter» from the U.S. Customs and Border Protection (CBP) dated July 31. In it, the gold bars are classified under a tariff code that foresees such duties.

By that point, tempers were already running high among Swiss parliamentarians. Several representatives from the Centre and the left-green bloc had singled out Swiss gold refiners as scapegoats for the failed tariff negotiations with the United States and were trying to outdo each other with their demands; finews.com reported on this.

Then last night: a false alarm. U.S. President Donald Trump ruled out potential trade barriers on certain gold imports from abroad. «Gold will not be subject to tariffs!» he wrote on his platform, Trust Social.