After the U.S. Supreme Court ruled on Trump's trade case, spot gold experienced significant short-term volatility, dropping $73 from $5063.96/ounce to $4990.9/ounce at one point. It has now rebounded to $5052/ounce, recovering about $61 from the low. Analyst James Athey pointed out that the market seems uncertain about how to respond to the ruling. The main issue originally concerned tariff refunds.