U.S. gold futures pared gains after the White House comment. They were last up 0.1% at $3,457 per ounce, reducing a premium over spot gold , the global benchmark, which was steady at $3,398.

The confusion arose when a Swiss gold refiner inquired about the tariffs and received a letter from U.S. Customs and Border Protection stating that one-kilogram and 100-ounce gold bars would indeed be ...