{"id":42542,"date":"2026-02-23T16:56:52","date_gmt":"2026-02-23T08:56:52","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=42542"},"modified":"2026-02-23T16:56:52","modified_gmt":"2026-02-23T08:56:52","slug":"gold-hits-3-week-high-on-tariff-turmoil","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-asia\/analysis\/gold-hits-3-week-high-on-tariff-turmoil\/","title":{"rendered":"Gold Hits 3-Week High on Tariff Turmoil"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"573\" src=\"https:\/\/www.vtmarkets.com\/en-asia\/wp-content\/uploads\/sites\/27\/2026\/03\/Gold-3-1024x573.webp\" alt=\"\" class=\"wp-image-42545\"\/><\/figure>\n\n\n\n<p><strong>Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold rises 0.6% to $5,136.22, its highest since January 30.<\/li>\n\n\n\n<li>Dollar weakens as US Supreme Court strikes down major Trump tariffs.<\/li>\n\n\n\n<li>Resistance seen near $5,400; inflation data tempers rate-cut hopes.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p>Gold extended gains on Monday, climbing to a three-week high as renewed uncertainty around US trade policy pressured the dollar and revived demand for defensive assets.<\/p>\n\n\n\n<p>Spot gold rose <strong>0.6% to $5,136.22 per ounce<\/strong>, after reaching its highest level since January 30. US gold futures for April delivery advanced <strong>1.5% to $5,157.50<\/strong>, reflecting stronger conviction in safe-haven positioning.<\/p>\n\n\n\n<p>The move followed a landmark ruling by the US Supreme Court striking down sweeping tariffs previously imposed under emergency powers.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">US to stop collecting tariffs deemed illegal by Supreme Court on Tuesday <a href=\"https:\/\/t.co\/cC5IJ7vyjD\">https:\/\/t.co\/cC5IJ7vyjD<\/a> <a href=\"https:\/\/t.co\/cC5IJ7vyjD\">https:\/\/t.co\/cC5IJ7vyjD<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/2025840589414060173?ref_src=twsrc%5Etfw\">February 23, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The decision injected fresh uncertainty into global markets and weighed on the greenback, helping bullion extend its recovery.<\/p>\n\n\n\n<p>In response, President Donald Trump signalled plans to raise a <a href=\"https:\/\/t.co\/8TCUkd0AyD\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">temporary tariff from 10% to 15%<\/a> on imports from all countries, adding further ambiguity to the trade outlook.<\/p>\n\n\n\n<p>Wall Street futures and the dollar slipped in Asian trading, reviving elements of the \u201csell America\u201d narrative that tends to benefit gold.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Tariff Twists and Inflation Add Complexity<\/h2>\n\n\n\n<p>While tariff uncertainty supports safe-haven demand, macro data complicates the rate outlook. Recent US inflation figures showed underlying price pressures increased more than expected in December, with further acceleration anticipated in January.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">US PCE inflation heats up in December <a href=\"https:\/\/t.co\/U9MpSkva5y\">https:\/\/t.co\/U9MpSkva5y<\/a> <a href=\"https:\/\/t.co\/U9MpSkva5y\">https:\/\/t.co\/U9MpSkva5y<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/2024959822236385538?ref_src=twsrc%5Etfw\">February 20, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Stronger inflation reduces the likelihood of early Federal Reserve rate cuts, limiting gold\u2019s upside in the near term. Markets currently expect easing to begin around June.<\/p>\n\n\n\n<p>Geopolitical risk also remains in play. <a href=\"https:\/\/t.co\/Y4F1i05zjV\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">Iran has signalled willingness to negotiate<\/a> over its nuclear programme to avert potential US military action, which could ease tensions if progress materialises. However, uncertainty around that process continues to underpin defensive flows.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>Gold (XAUUSD) is trading near <strong>5,125<\/strong>, up around 0.35% on the session, and continues to consolidate beneath the recent swing high at <strong>5,598.60<\/strong>.<\/p>\n\n\n\n<p>The broader trend remains upward, but price action over the past few weeks reflects a cooling phase after the sharp late-January spike and pullback.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-asia\/wp-content\/uploads\/sites\/27\/2026\/03\/1_image-24-1024x474.jpg\" alt=\"\" class=\"wp-image-42543\"\/><\/figure>\n\n\n\n<p>On the daily chart, price is holding just above the short-term moving averages, with the <strong>5-day (5,016)<\/strong> and <strong>10-day (5,014)<\/strong> clustered closely around current levels.<\/p>\n\n\n\n<p>The <strong>20-day (5,019)<\/strong> is also nearby, suggesting a tight compression zone that could precede a breakout. Meanwhile, the <strong>30-day (4,933)<\/strong> continues to slope upward, reinforcing the underlying bullish structure as long as price remains above that level.<\/p>\n\n\n\n<p>Immediate support sits around <strong>5,000\u20135,020<\/strong>, followed by stronger support near <strong>4,850\u20134,900<\/strong>, where prior consolidation formed after the post-spike correction.<\/p>\n\n\n\n<p>On the upside, a sustained push above <strong>5,200<\/strong> would strengthen bullish momentum and bring a retest of the <strong>5,500\u20135,600<\/strong> highs into focus. For now, gold appears to be building a base within a broader uptrend rather than signalling a full reversal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Cautious Outlook<\/h2>\n\n\n\n<p>Gold\u2019s advance reflects renewed policy uncertainty and dollar weakness rather than a clear shift in the rate cycle. As long as tariff ambiguity persists and the greenback remains under pressure, bullion may continue to attract safe-haven demand.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The dollar dropped against every major currency as President Trump\u2019s fresh tariff plans raised concerns about the outlook for the world\u2019s biggest economy <a href=\"https:\/\/t.co\/LVNi7NNuin\">https:\/\/t.co\/LVNi7NNuin<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/2025745696175882516?ref_src=twsrc%5Etfw\">February 23, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>However, upside momentum toward <strong>$5,400<\/strong> will likely depend on whether inflation moderates and whether geopolitical tensions escalate or stabilise. If inflation remains firm and yields rise further, gains could stall despite trade-related uncertainty.<\/p>\n\n\n\n<p>For now, the broader structure remains positive above $5,000, but the next directional catalyst will likely come from inflation data and developments in US trade policy.<\/p>\n\n\n\n<p><strong>Learn more about trading <a href=\"https:\/\/www.vtmarkets.com\/precious-metals\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Precious Metals<\/a> on VT Markets <a href=\"https:\/\/www.vtmarkets.com\/Insights\/\" target=\"_blank\" rel=\"noopener\" title=\"\">here<\/a>.<\/strong><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XAU\/USD climbs above $5,130 after US Supreme Court tariff ruling unsettles markets. Resistance at $5,400 in focus as dollar weakens. | VT Markets<\/p>\n","protected":false},"author":64,"featured_media":42545,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[6,13],"class_list":["post-42542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-gold","tag-precious-metals"],"acf":{"acf_article_selection_author":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/42542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/comments?post=42542"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/42542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media\/42545"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media?parent=42542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/categories?post=42542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/tags?post=42542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}