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 Trump will soon issue an executive order clarifying which tariffs apply to imports of gold bars, a White House official said, after Customs and Border Protection found them to be eligible for high levies.