Financial markets saw sharp swings today, with gold rising to a three-week high while oil and U.S. stocks fell amid uncertainty over President Donald Trump’s trade policy and escalating tensions with Iran.
Gold rose 1.2% in spot trading to $5,163.60 an ounce, the highest in more than three weeks, while U.S. gold futures for next April delivery rose 2% to $5,184.90 an ounce.
This was partly due to the dollar’s decline after the U.S. Supreme Court struck down most of President Trump’s sweeping tariffs.
supreme court ruling
As for the U.S. stock market, futures trading fell ahead of the rally after the Supreme Court ruled that more comprehensive tariffs imposed by President Trump were illegal, increasing uncertainty about the next steps in U.S. trade policy. Dow Jones Industrial Average futures fell 0.5%, S&P 500 fell 0.6% and Nasdaq 100 fell 0.7%.
The moves reflect the uncertainty plaguing markets between trade pressure on the U.S. economy and rising geopolitical risks in the Middle East. This makes it even more difficult to read future market trends.
Financial markets experienced significant volatility today, with gold rising to a three-week high while oil and US stocks fell amid uncertainty over President Donald Trump’s trade policies and escalating tensions with Iran.
Gold rose 1.2% in spot trading to hit a more than three-week high of $5,163.60 an ounce, while U.S. gold futures for April delivery rose 2% to $5,184.90 an ounce.
This is partially due to the dollar’s decline after the U.S. Supreme Court struck down a significant portion of blanket tariffs imposed by President Trump.
Supreme Court Judgment
As for the U.S. stock market, futures contracts fell ahead of the rally after the Supreme Court ruled that widespread tariffs imposed by President Trump were illegal, increasing uncertainty over the next steps in U.S. trade policy. Dow Jones Industrial Average futures fell 0.5%. S&P 500 futures fell about 0.6%, and Nasdaq 100 futures fell 0.7%.
These moves reflect the uncertainty gripping markets amid trade pressure on the U.S. economy and rising geopolitical risks in the Middle East. It becomes even more difficult to read future market trends.
