US President Donald Trump mentioned on Monday that gold imports won’t face extra tariffs, ending days of uncertainty that had rattled world bullion markets and despatched futures costs to document highs.“Gold won’t be Tariffed!” Trump mentioned in a press release on his Fact Social account, with out offering additional particulars. His remarks adopted confusion triggered by a US Customs and Border Safety letter that appeared to categorise two normal gold bar weights — one kilogram and 100 ounces (2.8 kilos) — as topic to duties.In response to Reuters, the ruling posted on the customs web site final week had raised issues that Washington would possibly place essentially the most broadly traded bullion bars in the USA beneath country-specific import tariffs, doubtlessly disrupting world provide chains. A White Home official instructed Reuters on Friday that the administration was making ready an govt order “clarifying misinformation” about tariffs on gold bars and different specialty merchandise.The customs letter, dated July 31 and first reported by the Monetary Instances, had spurred a surge in gold costs, with December supply contracts hitting a document excessive on the Comex, the world’s largest futures market. One-kilo bars comprise the majority of Switzerland’s bullion exports to the USA, and a 39 % levy beneath Trump’s “reciprocal” tariffs had been seen as a serious danger for the European nation, a key refining and transit hub.“Delighted to listen to the disaster has been averted,” impartial gold market analyst Ross Norman instructed Reuters. “It would come as an unlimited aid to the bullion markets, because the potential for disruption was incalculable.”Following Trump’s publish, US gold futures fell 2.4 % to $3,407 per ounce, narrowing the premium over spot gold, which dropped 1.2 % to $3,357. Shares of Barrick Mining fell 2.8 % after posting quarterly outcomes, whereas Newmont, the world’s largest gold miner, slipped barely to $68.87.Gold, thought of a safe-haven asset, has already touched document highs this 12 months amid tariff tensions and geopolitical unrest.(With inputs from Reuters)