"Gold will not be Tariffed!"
Trump wrote on Truth Social, "A Statement from Donald J. Trump, President of the United States of America: Gold will not be Tariffed!"
During the last several months, as Trump has announced as well as pulled back on some tariffs, stock prices connected with gold have gone up and down, as some invest in the precious metal during times of uncertainty.
Last week, the global gold market was impacted by news on tariffs as gold futures rose to a record high on Friday. It was uncertain if tariffs from the Trump administration would be impose on commonly traded gold bars after there was a ruling released on the US Customs and Border Protection Service's website. On Friday, gold futures rose to $3,534.10, per Fox Business.
Investors and analysts were waiting for further clarification on the issue at the time, and the post from Trump may have cleared up the uncertainty over the issue. The White House on Friday said that there would be an executive order issued to clear up the "misinformation" surrounding tariffs on gold bars.
“The White House intends to issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other specialty products,” the White House said on Friday before Trump issued the post.
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