US President Donald Trump said Monday that gold imports will not face additional tariffs, days after confusion flared on whether recent hikes applied to certain gold bars — threatening to upend global trade of the precious metal.

Trump’s comments came after US customs authorities made public a letter saying that gold bars at two standard weights — one kilogram and 100 ounces (2.8 kilos) — should be classified as subject to duties.

“Gold will not be Tariffed!” Trump said on his Truth Social platform, without providing further details.

The concern is whether gold products would be exempt from Trump’s “reciprocal” tariffs impacting goods from dozens of economies including Switzerland, which sees a 39-percent levy.ne-kilo bars are the most common form traded on Comex and comprise the bulk of Switzerland’s bullion exports to the US, the FT said.

The US customs ruling letter, typically used to clarify trade policy, came as a shock amid expectations that gold bars would be classified under a different customs code that spared them from Trump’s countrywide levies.

Gold, seen as a safe haven investment, already reached record highs this year on tariff worries and geopolitical unrest. Gold held a loss after President Donald Trump said imports of bullion won’t be subject to US tariffs, although traders were still waiting for formal clarification over the policy following a federal ruling last week that sowed chaos and confusion across the market.

Spot bullion held near $3,350 an ounce as markets opened in Asia, following a 1.6% drop on Monday after Trump posted “Gold will not be Tariffed!” on social media. Futures of the precious metal in New York also held a loss of about 2.5%.