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 prices fell on Monday after President Donald Trump said tariffs will not be placed on imported gold bars, while investors awaited a U.S. inflation report that could provide an indication of the Federal Reserve's rate outlook.

Donald Trump declared that gold imports would not face additional tariffs, resolving market uncertainty triggered by a US Customs letter. The letter had suggested duties on standard gold bars, sparking concerns about disrupting global supply chains and causing a surge in gold prices.