The White House is preparing an executive order to clarify its stance on gold tariffs.

The White House will soon issue an executive order clarifying the U.S. position on tariffs on gold bullion , after an administrative decision sent shockwaves through the global precious metals market.

This Friday, U.S. gold futures reached an all-time high after it was announced that Customs and Border Protection (CBP) had ruled that imports of one-kilogram and 100-ounce bars must be classified under a tariff code subject to taxes .

The news, reported by the Financial Times , contrasts with industry expectations, which predicted that these types of ingots would be exempt from the tariffs introduced during former President Donald Trump 's administration. These metals, until now, were covered under a different code, which granted them an exemption.

A White House official said Friday that the administration intends to issue an order "to clarify misinformation about the imposition of tariffs on gold bullion and other specialty products."