The Ruling That Was Supposed to Change Everything The U.S. Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA) did not grant authority to impose the tariffs in question. In theory, that should have removed a major source of economic uncertainty. Tariffs can raise input costs. Higher costs can fuel inflation. Inflation can delay rate cuts. Delayed rate cuts can support gold. So when the ruling came down, many expected gold to pull back meaningfully. It didn’t. Gold dipped briefly — and then resumed its steady march higher. That tells us something important. When “Good News” Doesn’t Push Gold Down Markets are forward-looking. If tariffs were the main reason gold had been climbing, removing them should have changed…
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