Gold Prices Rise Amid Uncertainty Over U.S. Trade Deals

SadaNews - Gold prices rose amid uncertainty about what will happen with trade deals negotiated with the United States, after the Supreme Court restricted President Donald Trump's authority regarding tariffs, disturbing the markets.

Gold prices surged by up to 1.3%, exceeding $5148 per ounce. Trump stated on Saturday that he would impose a global tariff of 15% to maintain protective trade measures, following the Supreme Court's ruling against his use of emergency powers to set retaliatory tariffs.

The decline in the value of the dollar following this decision has led to a decrease in the metal's price for many buyers.

Doubts About Tariff Deals

The court's ruling has raised doubts about the deals the United States has negotiated with key trading partners.

The head of trade in the European Parliament said he would propose delaying ratification of an agreement with Washington until more clarity is provided, while Indian officials will postpone a trip to the United States, and a member of Japan's ruling party described the situation as "a real mess".

The uncertainty provides further momentum for gold's recovery after a sudden collapse at the beginning of the month. The precious metal has risen over the past three weeks, as many long-term supportive factors remain in place, including increasing geopolitical tensions and investor caution towards sovereign bonds and currencies.

Gold rose by 0.7% to reach $5144.72 per ounce as of 8:25 AM in Singapore. The Bloomberg Spot Dollar Index fell by 0.2%, after a decline of 0.2% on Friday. Silver also rose by 2.2% to $86.47, and the prices of platinum and palladium also increased.