Gold futures in New York steadied as traders awaited clarification from the White House over its tariff policy, after a US government agency stunned the market last week by formally ruling that 100-ounce and one-kilogram bullion bars would be subject to duties.

President Trump said Monday that "gold will not be tariffed," but did not provide further details, weighing in after a ruling by U.S. customs officials caused chaos and confusion in global bullion markets late last week.

U.S. gold futures hit a record high on Friday amid uncertainty over whether country-specific U.S. import tariffs would apply to the most commonly traded sizes of gold bars. Spot prices, meanwhile, eased but remained on track for a weekly gain.