ISTANBUL

Against concerns over recent US tariffs on one-kilogram and 100-ounce gold bars, President Donald Trump ruled out any levies on the precious metal.

"Gold will not be Tariffed," Trump said in a social media post that came after US Customs and Border Protection announced on its website that imports of one-kilogram and 100-ounce gold cast bars from Switzerland would face 39% reciprocal tariffs.

The revelation that the gold bars were not included in the list of exemptions from reciprocal tariffs, in line with the agency's explanation of the classification code for gold bars in the international trade system, caused concern in gold markets.

US media reports indicated that the White House plans to issue an executive order soon to clarify “misinformation” related to tariffs on gold bullion.