Trump rules out gold tariffs, calming markets

Donald Trump announced on Truth Social that gold imports will not face tariffs, reversing a U.S. Customs decision that would have applied a 39% duty on Swiss gold bars. The move eased fears of major disruptions to global bullion flows.

Gold prices had hit a record $3,543 per ounce on Friday after the initial tariff news. Following Trump’s clarification, prices fell over 2% before stabilizing. Spot gold now trades at $3,352.32 per ounce, slightly higher on the day, while December futures remain weaker at $3,403.50