President Trump said Monday that "gold will not be tariffed," but did not provide further details, weighing in after a ruling by U.S. customs officials caused chaos and confusion in global bullion markets late last week.

Gold futures in New York steadied as traders awaited clarification from the White House over its tariff policy, after a US government agency stunned the market last week by formally ruling that 100-ounce and one-kilogram bullion bars would be subject to duties.

President Donald Trump said Monday in a Truth Social post that there will be no tariffs on gold after last week's wild gold market and Homeland Security ruling.