Gold Price Gap exposed on the New York Stock Exchange to shocking fees

The price difference between future gold contracts in New York and the direct price jumped in London, after a report by the Financial Times reported that the United States’ imports of gold bars with a kilogram of weight were subject to customs duties. Delivery contracts in December- the most traded- rose sharply with the opening of the Asian markets on Friday, where the difference between them and the immediate price jumped to more than $ 125 per gram before dropping to about $ 95 in Singapore. This big difference in prices is unusual and reminiscent of a similar scene that occurred earlier in the year, when the fear of imposing potential US customs duties increased widespread prices. Gold prices are out of the road. Future gold contracts in New York usually move parallel to the immediate price in London. But New York gold prices jumped to a record level of $ 3534.10 an ounce before the profits shrank, and the Gold Prices in London fell 0.3% to $ 3386.21. Gold rods that weigh a kilogram and 100 ounces- used to resolve the majority of contracts distributed on the ‘comic book’ stock exchange in New York are supposed to be classified as a customs item subject to fees, instead of inserting into the graphic category on July 3. This news has elicited uncertainty as to whether gold will be included in the agenda for comprehensive customs duties adopted by President Donald Trump. The Trump administration released the precious metal of customs duties in April in April, which then led to the collapse of the price difference between future contracts and the immediate price, and put an end to a major proposal process that attracted about 850 tonnes of gold to New York storage facilities, where traders try to benefit from the big price. David Wilson, chief commodity analyst at BNP Paribas, said there was a lot of confusion about whether the new customs bases only apply to imports from Switzerland that have not yet managed to conclude a trade agreement with the United States or all alloys. And “The people I talked to to see that there was a mistake by the American Customs Authority, and that it made a mistake to classify gold.” But he added: “And if it is proven that this classification is correct, it will be a fundamental change.” The United States imports large amounts of gold from Switzerland, where alloys weighing 400 ounces and convert them into smaller alloys with a kilogram of kilograms, to be used to complete future contracts on the “comic book” stocks in New York, via the “future contract mechanism against the equal commodity mechanism, Wilson said The possibility of setting up customs on these products has encouraged traders to “strengthen the metal to the United States to support their centers according to the mechanism of the future contract against the material commodity.” Gold prices. This development impedes the functioning of the gold market, and is a challenge for brokers and banks that implement these transactions and depend on the availability of metal in the US cabinets. “