The White House intends to issue an executive order in the near future "clarifying misinformation" about tariffs on gold bars and other specialty products, a White House official told Reuters on Friday.

The global gold market relies on a network of banks, refineries and couriers that can fly bullion between key trading hubs at a moment’s notice in pursuit of the highest prices. On Friday, a shock US ruling suggesting that the metal would be subject to tariffs plunged that system into chaos.