2026.02.2020:49:09UTC+00Gold Adds Momentum to Test Monthly Highs

Gold surged above $5,080 per ounce on Friday, testing monthly highs as a landmark Supreme Court ruling against global tariffs sparked a volatile rush into safe-haven assets. Although the Court struck down reciprocal duties, the dollar’s initial drop was quickly reversed after President Trump vowed to impose a new 10% global tariff via executive order. This rapid policy pivot, combined with a weaker-than-expected Q4 GDP reading of 1.4%, reaffirmed gold’s appeal as a hedge against rising risk and slowing growth.

Additional support for bullion comes from persistently high core PCE inflation at 3% and escalating geopolitical tensions in the Middle East, including a major U.S. military buildup near Iran. Even with a divided FOMC and a still-resilient labor market, gold is on track for a strong weekly close as traders balance the White House’s legal setback against renewed protectionist threats.