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Gold Futures break $3500 for First Time... why? (Patreon)

Published:
2025-08-08 04:10:31
Imported:
2026-06
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Content

The U.S. put a 39% tariff (a tax) on certain gold bars (1 kg and 100 oz) that come from Switzerland. These specific bars are the exact ones used to settle gold futures contracts on the COMEX, the main U.S. gold exchange. Switzerland is the world’s biggest gold refiner, and a large portion of gold going to COMEX comes from there.

Why Does That Matter?

Because of the tariff, Swiss refiners stopped shipping those bars to the U.S. That means there’s less physical gold available to fulfill gold futures contracts in New York. So traders who need to deliver gold for futures contracts are scrambling to find eligible bars.

Market Impact?

The price of gold futures in New York suddenly jumped above the regular “spot” price (the global cash price). That price jump is a premium, meaning buyers are willing to pay more just to get access to gold in the right format and in the right place (New York).

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Comments

Ω

Why is TTD down 40% today?

Ed Edie

James, can you give us your opinion on cleanspark

George A

Neptune underperforming greatly all these risky stuff is hurting all your members it seems like pick 10 8 fail and brag about the 2? I got burnt on a few so far. Need to stop this money losing picks . Too good for that

frozennorth
>>183300729

Maybe you need to exercise some self control. James tells us what he does, but that doesn't mean you blindly do everything he does and then place the blame on him when you fail.

Moe Hawk

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tincan

Yet, GLD hasn’t broke out ,, coiling or distributing only time will tell

King Lewy

Got gold, there are advantages to physical

King Lewy

I expect boring Gold to double before Bitcoin from here, then swap gold back into Bitcoin, they are a great trading pair

Kp monty

Gold showing its superiority btc. Up 50% ytd vs btc and you know it won't dump 50% in bear market

Machtuk

There’s no tariffs in cyberspace. This will drive more people to the better gold imo

Meteoric
>>183306972

If I buy a new laptop/PC, download Trezor suite, do I need to input the 24 words or will it already work fine?

George A

Looks like ATM in today and it’s not 2.5% NAV

The Phantom
>>183300007

I'd like to know as well, looks like a good earnings report yet the stock dumped. Where's the $20 CLSK that was continually talked about last year. I'm down almost 50% in it luckily it's only like .3% of my holdings