00:00Gold rose over 1% on Monday, reaching $5,152 per ounce by late morning, the highest price in three
00:09weeks.
00:10The dollar fell after the Supreme Court found on Friday Trump's sweeping tariffs exceeded his authority.
00:16The fresh uncertainty in trade policy stirred up demand for the safe haven metal
00:21and made greenback-priced commodities like bullion more affordable for overseas buyers.
00:26Trump responded over the weekend by lashing out at the court and imposing a blanket 15% levy on imports,
00:33the maximum level allowed under the law, and insisting trade deals with nearly 20 countries,
00:38most with higher tariffs, should stay.
00:41Data on Friday showed underlying U.S. inflation increase more than expected in December
00:46and signs are pointing to a further acceleration in January.
00:49This could discourage the Federal Reserve from easing interest rates soon,
00:53lessening the appeal of holding non-yielding gold.
Comments