The mistake of the "golden tariff" sparked market turmoil, with conflicting statements from the US government further exacerbating market concerns.

The news of the US government imposing tariffs on imported gold bars has triggered a severe shock in the international financial market. Following Washington's announcement of a 39% tariff on imported goods from Switzerland, a report in the British Financial Times on the 8th revealed that a ruling letter issued by US Customs and Border Protection on July 31 clearly classified 1 kilogram and 100 ounce gold bars under a tariff code that requires higher taxes to be paid. The New York Times reported that this means that gold bars of corresponding weights from Switzerland will face a 39% tariff. This news caught Wall Street off guard as the market had previously expected gold bars to be exempt from taxes. After the news was revealed, the price of New York gold futures surged, reaching a historic high of $3,534 per ounce on the 8th, but the White House promptly denied the tariff plan, calling the reports "misinformation" and promised to issue an executive order to clarify. Subsequently, the price of gold quickly narrowed its gains. Despite the White House's efforts to calm the storm, the conflicting statements between the US Customs and Border Protection's official ruling letter and the executive branch have continued to exacerbate market concerns. Senior strategist Hawes of Bank of America stated that the market is awaiting more certainty. Some analysts also point out that the risk of disruption in the global gold supply chain has begun to show. The abnormal price differential between the London and New York markets reflects a sharp increase in risk premium in the US market.