Gold experienced a significant boost following recent uncertainties stemming from the U.S. Supreme Court's decision to repeal many of the tariffs previously imposed by Donald Trump. On Monday, the price of gold increased over 1%, reaching a three-week high, as the ruling led to a drop in the dollar value and instigated new uncertainties in trade policies, thereby enhancing the appeal for secure investment havens.

In response to the Supreme Court's ruling, Donald Trump criticized the decision, describing the court in derogatory terms. He also announced a blanket tariff of 15% on imports—the maximum allowable under U.S. law—insisting that trade agreements with nearly 20 nations should remain in effect, most of which carry higher tariffs. This reaction indicates Trump's ongoing engagement and influence in U.S. trade matters despite his departure from the presidency.

As the spot price of gold assessed at $5,146.89 per ounce, reflecting a 0.9% increase, it had previously surged as much as 1.1%, marking its highest level since January 30. The fluctuations in gold prices highlight the dynamic and often unpredictable nature of commodities markets, particularly in relation to political events and decisions made by financial authorities, fostering a climate of economic uncertainty that drives demand for precious metals.