On February 23, 2026, gold prices surged to a three-week high, climbing 1.1% to $5,161.64 per ounce, following the U.S. Supreme Court's decision to strike down a significant portion of President Donald Trump's tariffs. This ruling, which was a 6-3 decision, found that Trump had exceeded his authority under the International Emergency Economic Powers Act (IEEPA), leading to renewed uncertainty in global markets. Tim Waterer, chief market analyst at KCM Trade, noted, "The court’s tariff ruling has, aside from earning the ire of the U.S. president, added another layer of uncertainty to global markets, with traders again turning to gold as a defensive play." In response to the ruling, Trump announced a temporary tariff increase from 10% to 15% on imports from all countries, which analysts warn could lead to further confusion and instability in trade relations. This move has prompted a mixed sentiment in the markets, with Wall Street futures and the dollar both declining as investors reassess their positions amidst the tariff turmoil.
BUSINESS
Us Supreme Court Strikes Down Most Trump Tariffs, Market Reaction
63% NEGATIVE
On Feb 23, 2026, gold prices hit a three-week high after the Supreme Court struck down Trump's tariffs, causing market uncertainty and prompting a temporary tariff increase, impacting global trade.
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TGtheguardian.com
TFPthefrontierpost.com
BRbrecorder.com
SCMPscmp.com
THthehindu.com
PPprofit.pakistantoday.com.pk
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TSthestandard.com.hk
MAmarketscreener.com