Gold prices fell from a record high Friday after the White House said it will clarify "misinformation" about the precious metal facing tariffs.

"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," a White House official told CNBC.

Gold futures fell from an all-time closing high of $3,491.30 on the White House statement. The precious metal was last trading at $3,463.30.

The Swiss Precious Metals Association warned earlier Friday that U.S. tariffs "may negatively impact the international flow of physical gold."

"We are particularly concerned about the implications of the tariffs for the gold industry and the physical exchange of gold with the U.S., a long-standing and historica

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