Metal traders say crisis averted after US president clarifies on social media that gold bars are duty-free
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The price of gold has eased after Donald Trump announced tariffs would not be placed on gold bars.
His social media statement on Monday put an end to uncertainty, which had caused panic in global trade of the precious metal.
Investors sold off the metal as Trump wrote on his Truth Social platform that “Gold will not be tariffed”. The White House had earlier said it would clarify “misinformation” about tariffs on gold bars, which are duty-free.
