Gold Climbs to Three-Week High Following Trump’s Tariff Setback
Silver jumped 5.3% to $86.72 per ounce, marking a more than two-week high. Platinum edged up 0.5% to $2,187.25.
Quick overview
- Gold prices reached a three-week high, climbing 1.77% to $5,169.55 per ounce following the U.S. Supreme Court's decision to strike down tariffs.
- Silver surged 5.3% to $86.72 per ounce, while platinum and palladium experienced slight changes in price.
- The uncertainty surrounding tariffs has driven investors back to gold as a safe-haven asset amid volatile market conditions.
- Market analysts suggest that gold's future performance will depend on ongoing tariff uncertainties and geopolitical tensions.
Gold prices surged to a three-week high on Monday as markets absorbed the U.S. Supreme Court’s decision to strike down a large share of the tariffs imposed by President Donald Trump, pushing investors back toward safe-haven assets.
Spot gold climbed 1.77% to $5,169.55 per ounce, after earlier touching its highest level since January 30. U.S. gold futures for April delivery rose 2% to $5,180.40.
Silver jumped 5.3% to $86.72 per ounce, marking a more than two-week high. Platinum edged up 0.5% to $2,187.25, while palladium slipped 1.4% to $1,825.
Tariff uncertainty boosts demand for safe havens
“The court’s decision on tariffs has added another layer of uncertainty to global markets, prompting investors to return to gold as a defensive asset,” said Tim Waterer, market analyst at KCM Trade.
Following the landmark ruling, the president announced a new global 10% tariff on imports for 150 days and raised the rate to 15% — the maximum allowed under the relevant statute — reigniting uncertainty across financial markets.
In this context, U.S. equity futures and the dollar weakened in Asian trading on Monday. “Whether gold can break back above $5,400 in the near term will depend on how long tariff-related uncertainty persists and whether the U.S. moves toward military action against Iran,” Waterer added.
Markets remain highly sensitive to policy signals, reinforcing gold’s role as a hedge in an increasingly volatile global environment.
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