US Supreme Court decision on Trump’s tariffs: The US Supreme Court struck down the reciprocal tariffs imposed by the Donald Trump administration on its trading partners. Hours after this US Supreme Court decision on tariffs, US President Donald Trump signed off on a 10% global tariff on all countries. So, after the series of these developments, global markets, including Dalal Street, are expected to react on Monday. Gold and silver prices are also expected to react to such developments in the US, as there is significant uncertainty regarding Trump’s tariffs and the repayment of nearly $175 billion in tariffs collected by the US administration after they were imposed on trade partners.
According to market experts, the US Supreme Court’s decision on tariffs is expected to bring relief to Indian exporters with significant exposure to the US market. The US Supreme Court decision has triggered positive sentiment, and the Indian stock market is expected to open with an upside gap on Monday, they said. They said Gift Nifty closed around 200 points higher than the Nifty 50 close, signalling positive sentiment on Dalal Street after this US Supreme Court decision. They predicted a positive opening for gold and silver prices as uncertainty will be very high when the market opens on Monday.
What US Supreme Court decision on tariffs mean for Dalal Street?
Expecting a gap-up opening on Monday when trade activity resumes on Dalal Street, Seema Srivastava, Senior Research Analyst at SMC Global Securities, said the US Supreme Court’s decision to strike down Trump’s global tariffs is a huge win for Indian exporters, who were struggling with tariffs imposed under the International Emergency Economic Powers Act (IEEPA). These tariffs had impacted Indian exports worth over $50 billion, with labour-intensive sectors like textiles and gems facing significant challenges.
“The decision effectively eliminates the 18% reciprocal tariff agreed upon under the India-US trade framework, meaning 55% of India’s exports to the US will now be subject to only 10%,” Seema Srivastava of SMC Global Securities said.
However, Sugandha Sachdeva, Founder of SS WealthStreet, said the US Supreme Court decision on Trump’s tariffs does not affect sector-specific tariffs imposed under separate statutory authorities. Duties on steel, aluminium, automobiles, semiconductors, and other strategic products remain firmly in place. This ensures that targeted protection for key industries continues despite the broader setback to the reciprocal tariff framework.
What Gift Nifty signals?
Expecting a gap-up opening for the Indian stock market, Avinash Gorakshkar, a SEBI-registered fundamental equity analyst, said, “When these developments took place, the Indian stock market was closed, but the Gift Nifty was open. Generally, the Gift Nifty index and the Nifty 50 index closed with marginal differences. But on Friday, the Nifty 50 index closed at 25,571, while the Gift Nifty 50 futures for February 26, 2026, expiry closed at 25,764, around 200 points higher than the Nifty 50 index. So, I won’t be surprised if the BSE Sensex opens more than 500 points higher on Monday.”
Impact on gold, silver rates
On how the US Supreme Court’s decision on Trump’s tariffs may impact gold and silver prices, Sugandha Sachdeva of SS WealthStreet said the ruling injects renewed uncertainty into global trade policy. She said that President Trump has publicly criticised the US Supreme Court decision and announced to introduce an additional 10% global tariff, underscoring his continued commitment to protectionist trade policy.
“These evolving trade dynamics, combined with heightened geopolitical tensions, continue to underpin safe-haven demand. The ongoing US military buildup in the Middle East has intensified market anxiety. With diplomatic deadlines in place and retaliation risks looming, geopolitical uncertainty remains elevated. Overall, trade uncertainty, geopolitical risk premium, and macroeconomic crosscurrents continue to provide a structurally supportive backdrop for gold and silver,” said Sugandha Sachdeva of SS WealthStreet.
Outlook for the gold rate today
Speaking on the outlook of gold rate today, Sugandha Sachdeva said, “Technically, gold price remains well supported near $4,880 per ounce and ₹1,49,800 per 10 gm in the domestic market. Immediate resistance is seen around $5,100 to $5120 per ounce and ₹1,61,000 per 10 gm. A sustained break above these levels could open the path toward $5,350 internationally and ₹1,75,000 per 10 gm domestically.”
Outlook for the silver rate today
On the outlook for silver rate today, Sugandha Sachdeva said, “Silver price is finding support near $70 per ounce and ₹2,25,000 per kg (closing basis), while resistance is placed around $86 per ounce and ₹2,75,000 to ₹2,78,000 per kg in the May contract.”
The SS WealthStreet expert said that a decisive breakout above resistance, particularly if trade tensions or geopolitical risks escalate, could trigger a fresh upward leg in silver towards ₹3,50,000 per kg. With Chinese participants expected to return on 24th February from the Lunar New Year holiday break, liquidity and directional conviction could improve, potentially setting the stage for a sustained move once key technical thresholds are cleared.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
