Trump administration aims to clarify gold bar import duties, which could significantly impact Comex gold prices
by VT Markets
/
Aug 8, 2025
The Trump administration is set to announce a policy that will make sure imports of gold bars won’t face tariffs, following some surprising duty announcements.
Comex gold futures hit a new record high earlier but have since dropped back down.
Volatility and Trade Policy
This news made gold prices test the rising 100-hour moving average at $3,446.10. Buyers stepped in and pushed prices back up to $3,464.
We remember the wild fluctuations during the Trump era when unexpected tariff news impacted the gold market. That situation, where futures jumped before falling again, highlights how sensitive gold is to trade policy updates. Traders should be ready for sudden price changes influenced by government news.
The case for gold remains strong in summer 2025. Recent data from the World Gold Council shows that central banks continued their record buying spree in the second quarter, adding over 220 tonnes to worldwide reserves. Combined with a persistent US inflation rate of 3.6% in July, this creates a solid support for the market.
Strategic Positioning and Market Vulnerability
With the possibility of sharp price changes, traders should think about strategies that take advantage of increased volatility. Implied volatility for gold options has already risen to a four-month high of 19%, showing anxiety around upcoming trade talks. Using option straddles or strangles could help capture a significant move without risking a specific direction.
Looking at positioning, speculative interest is extremely high. The latest Commitment of Traders report shows that managed money accounts hold one of their largest net-long positions since the highs of 2022. While this indicates strong bullish sentiment, it also means the market could be at risk for a quick sell-off if opinions shift.
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by VT Markets
Aug 8, 2025
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