Gold Surges to 3-Week High as US Supreme Court Tariff Ruling Weighs on Dollar

Key Facts

1Spot gold rose 0.93% to $5,151.44 per ounce, marking its highest level since January 30.

2The US Supreme Court struck down sweeping tariffs, triggering uncertainty over trade policy.

3A weakening dollar and deteriorating risk sentiment fueled a 'sell America' trade in Asian markets.

Spot gold prices climbed 0.93% to reach $5,151.44 per ounce, marking the highest level since late January. The rally was primarily driven by a landmark US Supreme Court decision that struck down sweeping tariffs, creating significant trade policy uncertainty. This legal development triggered a decline in the US dollar and a swift shift in investor sentiment toward safe-haven assets. In Asian markets, a 'sell America' trend emerged as traders reacted to the potential disruption in trade dynamics and economic policy. With Wall Street facing renewed volatility, gold has reclaimed its status as a preferred hedge against geopolitical and economic instability. Analysts suggest that the combination of a weakening currency and legal ambiguity in Washington provides strong upward momentum for precious metals in the near term.