Gold Surges Amid Court Ruling Uncertainty

Gold prices soared to a three-week high following the U.S. Supreme Court's decision to overturn President Trump’s tariffs. The ruling spurred economic uncertainty, weakening the dollar and driving investors to gold. The situation is compounded by potential U.S.-Iran tensions and rising U.S. inflation.

Gold prices surged to a three-week high on Monday as uncertainty simmered following the U.S. Supreme Court's decision to overturn a significant portion of President Donald Trump's tariffs. This ruling put pressure on the dollar, prompting investors to seek refuge in gold.

Experts noted that the court's decision not only dealt a blow to the U.S. president but also added volatility to global markets. Tim Waterer, a chief market analyst at KCM Trade, highlighted that gold has once again become a defensive asset amid market turbulence.

In the aftermath of the ruling, there is speculation about further tariff adjustments and military actions involving the U.S. and Iran. Additionally, recent data indicating rising U.S. inflation could impact Federal Reserve interest rate decisions, further influencing market dynamics.

(With inputs from agencies.)