A U.S. trade court has struck down large parts of former President Trump’s global tariff program, ruling that many of the imposed duties were unlawful.
The initial market reaction sent gold prices lower as the dollar strengthened on the news, but gold later stabilized as traders reassessed the implications.
The administration has filed an appeal against the ruling, and the case could ultimately be decided by the Supreme Court, prolonging legal uncertainty around the tariffs.
Analysts say the court decision could lessen gold’s near-term appeal as a safe-haven asset, since lower tariff risk generally reduces inflation and geopolitical anxiety that often support bullion. Still, many observers stress that gold’s long-term upward trajectory remains supported by broader monetary and fiscal factors.
As of the latest trade, gold is changing hands at about $3,320 per ounce, a modest decline on the day but within a normal intraday range given the news-driven volatility.