The National Coin & Bullion Association is reporting that the White House just confirmed that gold is exempt from its new “reciprocal” tariffs. It is likely that silver, platinum, and palladium are likely in the clear too, but the NCBA is double-checking before making a final announcement on silver, platinum and palladium.

The information was contained in a fact sheet tied to a national emergency declaration released on April 2, 2025. The fact sheet specifically lists “bullion” as exempt, locking in gold coins, bars, and ingots. Silver, platinum, and palladium aren’t named outright but fall under the term bullion in trade language, and markets are betting they’re safe — premiums for platinum and palladium have already tanked in response.

The NCBA reports that the social media platform X is among the sources buzzing with the same interpretation: all four precious metals look good. Copper, steel, and aluminum dodged the tariffs too, but it’s gold, silver, platinum, and palladium that matter to collectors.

Details are available at the White House website https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-declares-national-emergency-to-increase-our-competitive-edge-protect-our-sovereignty-and-strengthen-our-national-and-economic-security/.

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