just reclaimed $5,100 for the first time in nearly a month — and the catalysts stacking up behind it aren’t going away anytime soon. April futures opened Monday at $5,128.80, up 0.9% from Friday’s close, with spot gold trading near $5,150 by mid-morning. The dropped 635 points. The shed 0.6%. Bitcoin tumbled below $65,000. And gold? Gold ripped higher while everything else bled.
The trigger is a trifecta that reads like a safe-haven playbook: the Supreme Court just struck down Trump’s emergency tariffs, Trump immediately retaliated with a new 15% global tariff under different legal authority, and the U.S. is signaling military action against Iran within 10 days. That’s policy chaos, trade uncertainty, and geopolitical risk all hitting at once.
The Supreme Court Blew Up the Tariff Framework — and Gold Loved It
Friday’s 6-3 Supreme Court ruling was the most consequential trade policy decision in decades. The court held that President Trump exceeded his authority by using the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs — the legal backbone of virtually every major duty implemented since early 2025. Chief Justice Roberts delivered the opinion, joined by Gorsuch, Barrett, and the three liberal justices.
The ruling invalidated the bulk of existing tariffs, including the
Stock-Picking Year as Rising Uncertainty and Elevated Risks Weigh on Markets
