Swiss gold producers are not going to open new factories in the United States, despite pressure from the administration of Donald Trump, according to ria.ru.
USA is unhappy that Switzerland has sharply increased gold supplies in recent months, which was one of the reasons for Washington's imposition of 39% duties on almost all Swiss goods.
According to the Swiss Association of Precious Metal Manufacturers and Dealers, the idea of relocating enterprises to the United States "makes little sense" because there is already an oversupply of processing capacity in the world.
In addition, the Swiss made marking on gold is the most important quality mark that can suffer when moving production abroad.
Meanwhile, gold exports to the United States continue to grow. In July 2025, 54 tons of precious metals were exported from Switzerland, which is five times higher than in the same month of 2024, amounting to almost 4.7 billion Swiss francs. Meanwhile, the scale of exports in July surprised even the manufacturers themselves. The president of the Swiss Association of Manufacturers and Traders of Precious Metals, Christoph Wild, assured that the members of his association deliberately refrained from exporting, given the unclear legal situation. "The risk of a 10% and then a 39% duty being imposed on gold was too high," he said.
According to some estimates, 30% - 40% of the world's gold is processed in Switzerland.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
