Gold Showing Significant Move Back To The Upside

After slipping $12.10 or 0.2 percent to $4,997.40 an ounce during Thursday’s session, gold for April delivery is surging $98.20 or 2 percent to $5,095.60 an ounce.

The rebound by the price of gold comes as rising U.S.-Iran tensions have fueled safe-haven demand for the precious metal.

U.S.-Iran tensions intensified after U.S. President Donald Trump warned Tehran that it had a “maximum” of 15 days to reach a nuclear deal with the U.S. or “bad things will happen.”

With potential U.S. military action looming, Iran has warned that U.S. bases in the Middle East could be “legitimate targets” if Washington attacks.

Traders are also reacting to news that the U.S. Supreme Court has struck down most of Trump’s sweeping global tariffs, delivering a major blow to the president’s signature economic policy.

The nation’s highest court ruled in a 6-3 decision that the International Emergency Economic Powers Act, or IEEPA, does not authorize the president to impose tariffs.

However, the court’s decision does not address whether the more than $130 billion in tariffs that has already been collected should be refunded, with Justice Brett Kavanaugh predicting “that process is likely to be a ‘mess.'”

Trump slammed the “deeply disappointing” decision in a post on Truth Social and announced plans to sign an executive order imposing a new 10 percent “global tariff.”

On the U.S. economic front, the Commerce Department released a report showing U.S. economic growth slowed by much more than anticipated in the fourth quarter of 2025.

The report said gross domestic product climbed by 1.4 percent in the fourth quarter after surging by 4.4 percent in the third quarter. Economists had expected GDP to jump by 2.8 percent.

A separate Commerce Department report showed an unexpected uptick in the annual rate of consumer price growth, reinforcing expectations the Federal Reserve is likely to keep interest rates on hold in the near future.

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