The White House said last week it was preparing an executive order to "clarify misinformation" regarding tariffs on gold bars.

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.

Gold prices remained largely steady in Asian trading on Wednesday, supported by moderate U.S. inflation data that reinforced bets on a potential Federal Reserve rate cut. Investors are also keeping an eye on the upcoming U.