(Reuters) -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.

President Donald Trump announced Monday that he will not impose tariffs on gold, easing days of market speculation and calming global bullion markets."Gold will not be Tariffed!" Trump said in a statement posted on his Truth Social account.

This is the second gold tariff scare. The first one occurred after the election. The difference is that, then, there was time to import gold to deliver.