Comment: Gold back above $5,000 amid US policy uncertainty

Russell Shor, Senior Market Analyst at Tradu.com, commented:

“Gold has pushed back above $5,000, hitting multi-week highs as risk aversion picks up on renewed US policy uncertainty. A Supreme Court ruling overturning key tariff provisions and shifting trade signals have pressured the dollar, lifting bullion in the short term, while mixed growth and inflation data have fuelled speculative positioning.

“Longer term, the bullish case remains intact: sustained central bank buying, firm Asian physical demand and persistent geopolitical risk continue to anchor gold’s role as a hedge. These support an upside into 2026, supported by structural demand and an unsettled macro backdrop.”