Gold Hits $5,142 Record as Trump’s 15% Global Tariff Pivot Rattles Markets and Dents Dollar

Global markets witnessed a swift rebalancing on Monday as President Donald Trump invoked the 1974 Trade Act to impose a fresh 15% global tariff, effectively bypassing Friday's Supreme Court defeat. The move triggered a flight to safety, sending Gold prices up 0.7% to a staggering $5,142 per ounce, while the U.S. Dollar Index slipped 0.3% amid heightened trade uncertainty.

The impact was mixed across the globe: Wall Street futures and Bitcoin (down 2.7%) edged lower, while Asian markets rallied—led by the Hang Seng (+2.4%)—on hopes that the new flat rate might actually lower the average tariff burden on Asian exporters. Morgan Stanley analysts suggested that tariffs on Asia may have "likely peaked," as the 15% rate is lower than previous targeted duties. China’s Ministry of Commerce expressed firm opposition, stating it is "conducting a comprehensive assessment" to protect its interests.