What happened
A federal appeals court ruling threw parts of U.S. tariff policy into doubt and the administration signaled a push to the Supreme Court. At the same time public pressure on the Fed and questions about central-bank independence have moved to the front page. Markets do not like unclear rules or shifting guardrails.
Why this supports gold
When rules look fluid investors raise hedges. Gold is a straightforward way to diversify policy risk that spans trade decisions and monetary governance. Leading business voices have also emphasized the need to protect Fed independence which underscores why some are adding hard-asset exposure.
What to watch
Court calendars for tariff cases and any fresh signals on the line between the White House and the Fed. Clearer boundaries could cool the bid. More friction would likely keep it warm.
Client takeaway
Policy noise does not have to resolve quickly. A measured hedge in bullion can help offset headline risk.
