Gold prices surged on Monday, February 23, 2026, exceeding $5,170 per ounce as escalating trade tensions and a weakening dollar fueled investor demand for the safe-haven asset. Spot gold rose 1.8% to reach $5,175.55 per ounce, although U.S. Gold futures jumped 1.7% to $5,165.86, according to reports from Youm7 and Maspero.
The rally follows an announcement by U.S. President Donald Trump of a new package of global tariffs amounting to 10% for a period of 150 days, invoking Section 122 of the U.S. Trade Act. This move comes in response to a Supreme Court decision limiting the President’s authority regarding tariffs, as reported by Youm7. The Supreme Court ruling has created uncertainty regarding trade deals negotiated with the United States, further contributing to market anxieties.
The uncertainty surrounding U.S. Trade policy has prompted investors to seek refuge in gold, traditionally viewed as a store of value during times of economic and political instability. Nabd reported that the ruling sparked doubts about agreements the U.S. Had reached with key trading partners. The dollar’s subsequent decline following the court’s decision likewise lowered the price of gold for many international buyers.
Trump’s announcement of the new tariffs, made on Saturday, aims to maintain protectionist trade measures despite the Supreme Court’s limitations on his authority. This escalation in trade conflict is a primary driver of the current gold price increase, according to multiple reports.
The surge in gold prices represents a continuation of a strong four-day upward trend, driven by the escalating trade dispute and recent U.S. Economic data that has bolstered the metal’s appeal as a safe haven.
