Gold jumped above $5,090 an ounce on Friday, testing its highest level in a month, after a landmark ruling by the Supreme Court of the United States against global tariffs triggered sharp swings and a rush toward safe-haven assets.
Although the court overturned the reciprocal tariffs, the initial decline in the US dollar quickly dissipated after President Donald Trump pledged to impose new 10% global tariffs via executive order. This abrupt shift in trade policy, coupled with weak fourth-quarter GDP data at 1.4%, bolstered gold's appeal as a hedge against risk and slowing growth.