Gold costs rise and greenback falls amid contemporary Trump tariff risk

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Your assist makes all of the distinction. Learn extra World monetary markets are grappling with important uncertainty, triggering a surge in gold costs and a dip within the US greenback, following the US Supreme Court docket’s resolution to strike down Donald Trump’s tariff coverage.

The state of affairs was described by one knowledgeable as an "unholy mess" after Mr Trump responded by asserting a rise within the international tariff charge to fifteen per cent.

Gold, a conventional secure haven asset, noticed its worth briefly climb to roughly $5,280 (£3,901) per ounce.

By early Monday buying and selling, the commodity had settled 0.7 per cent increased at $5,140 (£3,805) per ounce, indicating buyers’ flight to stability amid anticipated volatility.

In the meantime, the US greenback weakened by about 0.3 per cent towards the pound, buying and selling at 0.74, and equally dipped towards the euro to 0.85.

Additional indicators of market apprehension have been evident as US futures for oth the S&P 500 and Dow Jones indexes fell, signalling a probable downturn when Wall Road opens in a while Monday.

Traders and companies all over the world will likely be digesting developments over the weekend concerning Mr Trump’s tariffs agenda.

<img src="https://static.independent.co.uk/2026/02/23/10/659ac29f040ed52d14eae4520d7d48c5Y29udGVudHNlYXJjaGFwaSwxNzcxOTI3NDE3-2.79602254.jpg" srcset="https://static.independent.co.uk/2026/02/23/10/659ac29f040ed52d14eae4520d7d48c5Y29udGVudHNlYXJjaGFwaSwxNzcxOTI3NDE3-2.79602254.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2026/02/23/10/659ac29f040ed52d14eae4520d7d48c5Y29udGVudHNlYXJjaGFwaSwxNzcxOTI3NDE3-2.79602254.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Gold prices have risen and the US dollar has dipped after the latest developments on US tariffs" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Gold costs have risen and the US greenback has dipped after the most recent developments on US tariffs (Yui Mok/PA) The very best US court docket struck down a good portion of tariffs in a serious ruling on Friday, together with the sweeping “reciprocal” tariffs he levied on almost each different nation.

These have been imposed below an emergency powers regulation generally known as the Worldwide Emergency Financial Powers Act (IEEPA).

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The US president responded by saying he could be growing the worldwide tariff charge to fifteen per cent, “efficient instantly”, hitting again on the Supreme Court docket’s ruling as an “terribly anti-American resolution”.

Mr Trump signed an govt order enabling him to bypass Congress and impose the tax on imports from all over the world, however which are restricted to 150 days earlier than the administration should search approval.

Richard Hunter, head of markets at Interactive Investor, stated: “Tariff developments have turned the state of affairs into an unholy mess, prompting much more questions than solutions.

“After the Supreme Court docket dominated towards the president’s tariffs, the implications are removed from clear.

“No reference was apparently made within the ruling as as to if the monies raised from tariffs to date would should be repaid and, even if so, whether or not the refunds would go to corporations or the final word buyer who can have suffered increased costs.”

<img src="https://static.independent.co.uk/2026/02/23/11/11/Illustration-shows-gold-imitations-and-U-S--dollar-banknote-1cebsxmv.jpeg" srcset="https://static.independent.co.uk/2026/02/23/11/11/Illustration-shows-gold-imitations-and-U-S--dollar-banknote-1cebsxmv.jpeg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2026/02/23/11/11/Illustration-shows-gold-imitations-and-U-S--dollar-banknote-1cebsxmv.jpeg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Gold, a traditional safe haven asset, saw its price briefly climb to approximately 5,280 US dollars (£3,901) per ounce." class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Gold, a conventional secure haven asset, noticed its worth briefly climb to roughly 5,280 US {dollars} (£3,901) per ounce. (REUTERS) Some consultants have stated the US has already collected round 130 billion {dollars} (£96 billion) in tariffs utilizing IEEPA guidelines.

Russ Mould, funding director for AJ Bell, stated Mr Trump’s newest plan “creates one more cliff edge and the occasions of current days have left international governments scrambling to work out whether or not the offers they'd agreed with the US will likely be affected, and in addition whether or not cash collected by the US authorities should be paid again”.

The renewed uncertainty seemed to be weighing on some European markets, with German carmakers BMW and Volkswagen shifting decrease on Monday, serving to carry the Dax index down by about 0.4 per cent.

It was a blended image, nonetheless, with the UK’s FTSE 100 and France’s Cac 40 kind of flat by mid-morning.

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