The United States has imposed import tariffs on one-kilogram and 100-ounce gold bars, according to a July 31 ruling letter from U.S. Customs and Border Protection cited by the Financial Times. The reclassification places the bars under a customs code subject to existing metal duties, ending their long-standing tariff-free treatment. Switzerland, which refines the bulk of the world’s bullion, ships large volumes of kilo-bars to U.S. banks and investors. Analysts warn that the new duties could reroute global gold flows, inflate logistics costs and widen regional price spreads, dealing a fresh blow to the Swiss refining industry. News of the ruling ignited buying on the New York Mercantile Exchange: December-delivery gold futures jumped more than 1 percent to an all-time high of $3,534.10 an ounce, lifting the premium over spot bullion to about $100. Spot prices steadied near $3,400, leaving the metal on course for a second weekly gain. The tariff decision coincides with a broader round of import levies on dozens of countries that took effect this week under President Donald Trump. Swiss officials, unable to secure an exemption during recent talks in Washington, said they are assessing the potential economic impact and exploring relief measures for exporters.