Overview
- Spot gold eased about 1.5% to around $5,150 per ounce and spot silver fell roughly 3% to near $85.50 after touching multi‑week highs a day earlier.
- Prices spiked earlier after the Supreme Court curbed emergency tariff powers and the White House shifted to Section 122, lifting a temporary global levy toward 15% and unsettling trade partners.
- India’s MCX gold hovered near ₹1.61 lakh per 10g after a rally to new February highs, while silver vaulted back toward ₹3.00 lakh/kg before seeing a quick retracement in spot quotes.
- Pakistan’s 24‑carat gold was quoted near Rs539,962 per tola on Feb 24, extending recent gains as global moves filtered into local Sarafa‑set rates.
- Traders cited a firmer dollar, profit‑taking, Fed signals, and U.S.–Iran tensions as key drivers, with investors watching U.S. data and policy clarity on the new tariff regime for direction.