White House planning order to clarify status of gold bars, official says

Catch up quick: Multiple outlets reported Thursday evening that a late-July Customs and Border Protection letter indicated stamped gold bars imported from Switzerland would be subject to tariffs.

• Markets had assumed that such bars, an important part of the financial system, were not part of the tariff regime.

What they're saying: "The White House intends to issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other specialty products," the official tells Axios.

• Gold prices dropped by over 0.9% on reports of the executive order, but have since recovered.

Editor's note: This is a developing story. Please check back for updates.