US President Trump confirmed that gold imports will not face duties, calming market uncertainty over potential gold tariffs.
WASHINGTON: US President Donald Trump announced on Monday that imports of gold into the United States will not be subject to tariffs, ending a week of speculation and confusion in the commodities market.
Posting on social media, Trump declared, “Gold will not be Tariffed!” shortly after market hours. The statement followed growing concerns among traders after a US government agency suggested that gold bars might be subject to import duties, a move that had prompted price volatility and industry pushback.
Gold futures remained largely unchanged following Trump’s remarks, although the metal’s prices had slipped earlier in the day. The White House had previously indicated that a new policy would be issued to clarify the tariff stance, leading to uncertainty among investors and importers.
Market analysts say Trump’s announcement provides short-term relief for traders, but broader economic factors will continue to influence gold prices in the weeks ahead. With tariffs now officially ruled out, the focus is likely to shift back to inflation trends, interest rates, and global demand for precious metals.
