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CommoditiesMedium•23 February 2026•

1 min read

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

World map with commodities like oil, gold, coffee, wheat, and metals, overlaid with an upward green arrow and financial charts.

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.

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.