Philenews

Dollar on the Decline – Shift to Gold

Published February 23, 2026, 12:09
Dollar on the Decline – Shift to Gold

Gold is on an upward trajectory, while the dollar is weakening, following the US Supreme Court's decision to overturn Donald Trump's tariffs. The spot price of gold rose 0.6% to $5,136.22 per ounce, while gold futures gained 1.5% to $5,157.50. The uncertainty caused by the court's decision is driving investors to turn to gold as a safe haven. The overturning of the tariffs is a blow to Trump's trade policy and has triggered a 'Sell America' wave, resulting in a decline in Wall Street stocks and the dollar. Trump has responded by threatening to temporarily increase tariffs from all countries. Analysts estimate that further gains in gold depend on the duration of uncertainty regarding tariffs and the possibility of US military involvement in Iran. Meanwhile, the euro and the pound are strengthening, while the Swiss franc, as a safe haven, is rising.