GOLD PRICE JUMP: US Supreme Court ruling against Trump's tariffs boosted precious metals

February 20, 2026

TL;DR

Gold price reached around $5,050 per ounce.
US Supreme Court ruling against global tariffs impacted the dollar and gold prices.
Weakened US dollar and geopolitical risks increased gold's attractiveness.
US economic data (1.4% Q4 GDP growth) and inflation uncertainty affected monetary policy outlook.
Geopolitical tensions, including US military presence in the Middle East and Iran's threats, sustained demand for safe havens.
Despite lower physical demand in Asia during Lunar New Year, gold prices rose due to legal setbacks for the White House and regional instability.

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