Markets open 2026 cautiously as gold price forecasts soar and tariff rulings stall
Financial markets opened the first full trading week of 2026 with cautious movement. The stock market posted modest gains, while cryptocurrencies held steady ahead of a key Supreme Court decision. Investors are also watching gold prices, which analysts predict could surge to record highs by early next year.
Major U.S. stock market indexes closed the week with small increases. The S&P 500 rose nearly 1%, the Dow Jones climbed about 1.8%, and the Nasdaq Composite gained 1.1%. Futures on Friday morning, however, showed little change, with Dow, S&P 500, and Nasdaq contracts remaining flat.
In cryptocurrency markets, Bitcoin traded around $91,000 during Friday’s Asian session. The price held steady as traders awaited the Supreme Court’s ruling on President Trump’s tariff powers, originally expected on January 10. Ether, meanwhile, dipped over 2% in 24 hours to around $3,100, despite recording weekly gains. The Supreme Court delayed its decision on whether Trump’s emergency tariff authority under the IEEPA would stand. Prediction markets had suggested a 76% chance the Court would not fully uphold the powers, but no ruling was issued. Instead, the legality of the tariffs remains unresolved for now. Elsewhere, gold price drew attention after HSBC forecast a rise to $5,050 per ounce in early 2026. The bank cited growing sovereign debt and geopolitical tensions as key drivers. Meanwhile, December’s employment report, due soon, is expected to show 70,000 new jobs and an unemployment rate of 4.5%.
The Supreme Court’s postponement leaves tariff policies in limbo for the time being. Stock market ended the week higher, but futures signalled little immediate reaction. With gold price projected to climb and cryptocurrencies holding firm, markets are bracing for further developments in trade policy and economic data.
