Gold futures slide after the U.S. Court of International Trade ruled President Trump didn't have the authority to impose sweeping tariffs on nearly every nation.
Futures are down 0.6% at $3,288.0 a troy ounce. The court blocked Trump's "Liberation Day" tariffs on Wednesday, voiding the levies that triggered a global trade war and threatened an economic slowdown. The court's tariff ruling does dim some of the safe-haven appeal of gold and table some headline uncertainty, RBC Capital Markets analysts say in a note.
The stronger U.S. dollar is also adding pressure on gold, forming an alternative safe-haven asset. That said, gold still protects against other forms of uncertainty and its appeal looks durable, RBC adds.
Source: Marketwatch
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