The first casualty of the imposition of a hefty 39-percent tariff on Swiss imports into the United States may be gold refining after it emerged certain gold bars would face the levy.

The price of gold on the US futures market hit a record high Friday after US customs authorities clarified that gold bars weighing either one kilogram or 100 ounces (2.8 kilograms) are subject to so-called reciprocal tariffs.

The July 31 clarification was first reported late Thursday by The Financial Times.

One-kilo gold bars are the most traded type of bullion on Comex -- the world's biggest futures market -- and Switzerland is a major supplier of the bars on the physical market.

Expectations had been widespread in Switzerland that gold bars would be classified under a different customs code that excludes

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