Fri May 30 12:30:00 UTC 2025: Here’s a summary of the text followed by a news article based on it:
**Summary:**
A US court ruling against Trump’s tariffs initially caused a dip in gold prices, briefly falling below $3,250 per troy ounce. However, the price quickly recovered as the tariffs remained in effect due to a pause on the court’s ruling by an appeals court. The ruling also did not affect the steel and aluminum tariffs, which the US government could now focus on. The ongoing trade conflict and uncertain economic outlook continue to support gold prices due to its safe-haven appeal and expectations of interest rate cuts. Weaker-than-estimated inflation data in April and lower US yields appear to be limiting any downside.
**News Article:**
**Gold Prices Fluctuate as Trump Tariff Ruling Sparks Uncertainty**
**New York, NY -** Gold prices experienced a rollercoaster on Thursday following a US court decision against tariffs imposed by former President Trump. The news initially sent the precious metal tumbling, briefly dipping below USD 3,250 per troy ounce.
The dip was triggered by reports that a US court had deemed the tariffs illegal, arguing that only Congress has the authority to regulate trade. However, the price quickly rebounded as an appeals court paused the initial ruling, meaning the tariffs would remain in place, at least temporarily.
According to Thu Lan Nguyen, Head of FX and Commodity Research at Commerzbank, the market reacted swiftly to the legal developments. Adding to the complexity, the ruling does not impact all tariffs, specifically those on aluminum and steel. Analysts believe the US government could shift focus to these sector-specific tariffs amid the ongoing trade disputes.
The back-and-forth on tariffs has intensified existing concerns about the global economic outlook, driving demand for safe-haven assets like gold. Weaker-than-estimated inflation data in April and lower US yields appear to be limiting any downside. Despite the ongoing loss of momentum in the US Dollar, EUR/USD remains on the back foot and navigates the area around 1.1350 after headline US PCE came in below expectations in April.
GBP/USD alternates gains with losses in the proximity of the key barrier at 1.3500. As a result, analysts anticipate that expectations for interest rate cuts will likely remain strong, further supporting gold’s value.
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