Market Uncertainty & Policy Impact - The market is awaiting clarification from the White House regarding a potential executive order addressing misinformation in the gold markets [1] - A Customs and Border Protection Agency ruling imposed tariffs on 108 spires or kilo bars of gold, causing shock in the markets [2] - Refiners are hesitant to ship gold to the United States due to the risk of a potential 39% tariff on gold bars, given the industry's slim margins [3] Potential Consequences of Tariffs - A 39% premium on gold bars would likely make it impossible to ship gold to the United States, as it's an investment asset, not a good [4][5] - The market may not function with tariffs on gold, impacting the biggest gold futures market in the world in New York [5][6] - There is hope that the tariff is a misunderstanding and will be rolled back, but uncertainty and fear persist in the market [6]