U.S. President Donald Trump on Monday said he would not impose tariffs on gold, a move welcomed by global bullion markets and which ended days of speculation that the yellow metal could be caught up in the ongoing global trade spat.

A recent US customs ruling has thrown the global gold trade into turmoil, prompting major suppliers to halt shipments to the United States. The confusion over whether certain gold bars will face steep import tariffs has put one of the world’s most important commodity flows on pause.

Some of the most widely used types of gold bars would be subject to U.S. tariffs, customs agency officials ruled, a particular blow to Switzerland’s large gold refining industry.