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Global Trade Doubt
Analysts and trade partners begin questioning the validity of existing trade agreements, further fueling the rally in precious metals.
Supreme Court Ruling
The U.S. Supreme Court issues a landmark decision limiting the President's authority to impose tariffs without Congressional approval.
Market Reaction
Gold prices begin to climb in late-session trading as news of the ruling spreads through financial hubs.
Mixed Close
Dow ends flat while Nasdaq and S&P 500 secure marginal gains at the bell.
Commodity Retreat
Gold prices breach the $5,000 support level, triggering sell-offs in silver.
Futures Dip
Stock futures show downward pressure amid anticipation of key economic data.
Market Holiday
U.S. markets closed for Presidents Day.
Gold prices climbed sharply following a landmark Supreme Court decision that restricted President Trump's unilateral tariff powers, casting doubt on existing and pending trade agreements. The ruling has triggered a flight to safety as investors weigh the potential for renewed trade instability and a shift in U.S. economic policy.
Canadian equities are poised for a positive start as rising prices for crude oil and precious metals provide a tailwind for the resource-heavy Toronto Stock Exchange. This upward momentum reflects broader global demand and supply-side constraints impacting key raw materials.
Hecla Mining reported a significant surge in fourth-quarter profits fueled by increased production, sparking a rally in its shares. Meanwhile, a flurry of global earnings reports from RioCan and Quad/Graphics showed resilience, even as commodities like gold faced pressure from a strengthening U.S. dollar.
U.S. equity markets opened a holiday-shortened week with a cautious tone, as the Dow Jones remained flat while the S&P 500 and Nasdaq posted modest gains. Investors are pivoting toward upcoming economic data releases following a period of volatility, while the commodities sector saw a significant retreat with gold falling below the $5,000 mark.