In his characteristic style of unveiling executive orders, US President Donald Trump announced via social media that gold will not face tariffs, offering much-needed reassurance to bullion markets.

In a post on Truth Social, Trump wrote, “Gold will not be tariffed.”

Following the news on Monday evening, gold prices dipped globally.

This clarification came after the U.S. customs notice hinted towards a possibility of levies being imposed on gold bars in two standard weights—one kilogram and 100 ounces (about 2.8 kilograms).

Back home, the gold prices also slipped lower after the clarification. In Delhi, 10g of 24K (99.9%) gold is priced at ₹1,02,820, as of 8:30 AM, according to the India Bullion Association.

Trump has also announced a 90-day extension before implementing tariffs on China.

“I have just signed an Executive Order that will extend the Tariff Suspension on China for another 90 days. All other elements of the Agreement will remain the same. Thank you for your attention to this matter,” he wrote.