Gold returns above $5,000 amid super tariffs and geopolitical Uncertainty

Gold returned above $5,000 per ounce on Monday, February 23. A weaker dollar (-0.14%) and an unstable geopolitical environment pushed the yellow metal to a new peak in the market.

More precisely, the safe-haven asset reached $5,155.72 per ounce (+1.12%) at 11:00 CET.

The decision by the Supreme Court to overturn Trump’s Super Tariffs significantly shook the markets, which reacted by weakening the dollar and increasing uncertainty over trade policy.

In this regard, independent analyst Ross Norman explained: “The recovery in gold and silver prices has likely been supported by concerns or confusion regarding tariff prospects. There are also multiple favorable factors, including weaker-than-expected economic growth data.”

This scenario caused the safe-haven asset to surge in a manner not seen for over three weeks. Silver also posted a significant performance, rising 5.45% to $86.73 per ounce, the highest level in over two weeks. Spot platinum increased by 0.3% to $2,163.64 per ounce, while palladium rose 1.8% to $1,779.81.

Benedetta Zimone