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.

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.

U.S. President Donald Trump on Monday said he would not impose tariffs on gold, a move welcomed by global bullion markets and which ended days of speculation that the yellow metal could be caught up in the ongoing global trade spat.