Previous Metals Preview: Gold tanks to one-week low as market eyes clarity on US trade policy

COMEX Gold futures slipped heavily yesterday, testing around one week low as the US is set to clarify its stance on gold imports by issuing an executive order that will exempt gold bars from US import tariffs, according to Investing.com. This announcement follows days of market action that pushed gold prices to record highs of $3500 per ounce last week. Gold soared as market was concerned that imports from Switzerland, the world?s leading gold refining center, could be hit with a 39% tariff. The metal currently trades marginally lower at $3400 per ounce.

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