President Donald Trump said Monday that imports of gold will not be subject to U.S. tariffs, posting the brief statement “Gold will not be Tariffed!” on his Truth Social account. The declaration eases immediate concerns among bullion traders and refiners that the metal could be swept into the administration’s broad reciprocal tariff program. Trump’s clarification follows a surprise letter issued last week by U.S. Customs and Border Protection that classified one-kilogram and 100-ounce gold bars as tariff-eligible. The agency’s interpretation implied a duty of as much as 39% on bullion from Switzerland, a major refining hub, and sent Comex gold futures to a record high on Friday while freezing some physical shipments as dealers sought guidance. After the president’s statement, spot gold pared some earlier losses but remained down about 1.2% in New York afternoon trading. The White House has not yet released a formal order amending the tariff schedule, and market participants say they are waiting for written guidance before resuming normal trade flows.