Gold will not face tariffs after customs confusion, Trump says
Trump's comments came after US customs authorities made public a letter saying that gold bars at two standard weights – one kilogram and 100 ounces (2.8 kilos) – should be classified as subject to duties.
'Gold will not be Tariffed!'
Trump said on his Truth Social platform, without providing further details.
The letter, which was made public last week and dated July 31, was first reported on by the Financial Times, sending the price of gold on the US futures market to a record high.
But a White House official told Agence France-Presse on Friday that the Trump administration plans to 'issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other speciality products'.
On Friday, gold for December delivery hit a record high on the Comex, the world's biggest futures market.
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