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.

Gold futures traded on New York's Comex and the global benchmark for spot prices in London were little-changed after Trump's post