Metals and Energy Markets Under Pressure After U.S. Court Halts Trump Tariffs
Gold and oil prices show volatility amid shifting U.S. trade policies and changing investor risk appetite.

Topic
Gold
Oil

Gold

Loses Shine as Dollar Strengthens and Safe-Haven Demand Declines
Gold prices continued their decline for the fourth consecutive day,
following a U.S. trade court ruling that halted the reciprocal tariffs imposed by former President Donald Trump,
deeming most of them illegal.
This decision strengthened the U.S. dollar, making the precious metal more expensive for international buyers.

By Thursday morning in Singapore, spot gold fell 0.7% to $3,264.15 per ounce,
after dropping 1.1% earlier in the session, adding to a 2% loss over the previous three days.
While the Trump administration has indicated plans to appeal the decision, the case is likely to reach the U.S. Supreme Court.

Analysts noted that the court’s ruling weakens gold’s appeal as a safe haven, especially as investor appetite for risk rebounds,
supported by strong earnings from companies like Nvidia and a surge in U.S. consumer confidence earlier in the week.

Despite recent losses, gold remains up more than 25% year-to-date, fueled by significant central bank purchases,
though it’s currently trading $240 below last month’s all-time high.

Oil

Oil Prices Rise as Tariff Suspension Boosts Market Sentiment
In contrast, oil prices rose following the same court decision,
which suspended most reciprocal tariffs and was perceived as a positive signal for global trade.
Brent crude approached $66 per barrel after gaining 1.3%,
while West Texas Intermediate surpassed the $62 mark.

This increase came alongside gains in U.S. equity markets,
as investors grew more optimistic about easing trade tensions and reduced global recession risks.

Looking ahead, the market is eyeing Saturday’s OPEC+ meeting,
where key members are expected to decide on production policy for July.
Expectations point to a possible supply boost.
Meanwhile, the American Petroleum Institute reported a 4.2 million-barrel drop in U.S. crude inventories last week,
according to a document seen by Bloomberg, offering additional support for prices.

While geopolitical and trade-related uncertainty continues to cast a shadow over the outlook,
markets appear to be repositioning between short-term risk opportunities and long-term supply-demand dynamics.

Metals and Energy Markets Under Pressure After U.S. Court Halts Trump Tariffs

Metals and Energy Markets Under Pressure

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