Gold prices fell below $3,260 per ounce on Thursday, marking a fourth straight day of decline, as reduced tariff risks eroded demand for safe-haven assets. The drop followed a ruling from the US Court of International Trade, which found that President Donald Trump had exceeded his authority in imposing reciprocal tariffs.
The court ordered the measures to be vacated and permanently blocked a significant setback for the president's economic agenda. The administration is expected to appeal the decision.
Meanwhile, minutes from the Federal Reserve's May meeting showed that policymakers are adopting a wait-and-see stance as they evaluate the economic effects of recent policy moves, including the now-blocked reciprocal tariffs.
The Fed also acknowledged increased risks of both inflation and unemployment. In other news, US gold exports to Switzerland surged in April after tariffs on precious metals were lifted, adding a new dynamic to global gold flows.
Source: Trading Economi
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