US court blow to Trump tariffs pressures gold

Gold prices slipped under $3270 per ounce on Thursday, weighed down by easing trade tensions that curbed demand for safe-haven assets. MCX August gold futures declined by ₹453 to ₹95500 per 10 grams. The move came after the US Court of International Trade ruled that former President Trump?s reciprocal tariffs exceeded legal authority and must be vacated, casting uncertainty on his broader economic agenda. While the White House is expected to appeal, the ruling eased trade-related fears, pressuring bullion. Meanwhile, the Fed?s May minutes revealed a cautious approach, with policymakers highlighting elevated risks of both inflation and unemployment. In a notable shift in trade flows, US gold exports to Switzerland jumped in April following the removal of precious metal tariffs.

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