Gold prices climbed in Asian trade on Wednesday, supported by renewed risk aversion after a U.S. court ruling upheld President Donald Trump’s trade tariffs, dampening optimism from a newly announced U.S.-China trade framework.
Trump Tariff Ruling Drives Safe Haven Demand
Despite initial cheer over progress in U.S.-China trade relations, a U.S. appeals court decision to maintain Trump-era tariffs triggered caution in financial markets. The court opted to keep the tariffs intact while reviewing a previous decision that sought to block them.
This legal development weighed on U.S. index futures, driving investors toward safe haven assets like gold. The move also comes ahead of key U.S. consumer price index (CPI) data, which could further influence expectations for interest rates and economic growth.
Gold Market Snapshot

Spot gold rose 0.6% to $3,341.03/oz

Gold futures for August delivery advanced 0.6% to $3,362.25/oz by 04:29 GMT

The uptick in gold reflects investor positioning against rising uncertainty surrounding trade policies and monetary dynamics in the U.S.
Trade Framework With China Offers Limited Support
While the U.S. and China announced a framework agreement for future trade talks, lack of detail kept investor sentiment mixed. The promise of easing rare earth and tech export restrictions did spark modest risk-on buying in Asian equities, but not enough to pressure gold lower.
Stay Updated on Commodities Movements
Track gold and broader commodity trends using:

Commodities – for real-time price tracking and sector trends

Economics Calendar – to monitor key macroeconomic events like inflation reports and policy meetings