Insignia Consultants | Gold hits over one-week low after US court blocks most of Trump's tariffs
Gold hits over one-week low after US court blocks most of Trump's tariffs
3 days ago
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May 29 (Reuters) - Gold touched a more than one-week low on Thursday after a U.S. federal court blocked President Donald Trump's "reciprocal tariffs", dampening the metal's safe-haven allure, while a robust dollar further pressured prices of the precious metal.
Spot gold was down 0.5% at $3,273.37 an ounce, as of 0431 GMT, after hitting its lowest since May 20.
U.S. gold futures dropped 0.7% to $3,270.80.
A U.S. trade court on Wednesday halted the enforcement of Trump's tariffs, ruling the president exceeded his authority by imposing universal duties on imports from nations with a trade surplus with the United States.
