Tensions have risen again in the markets. Whether the recent talks between the US and Iran will escalate into direct conflict is the main topic of discussion globally. All investors are focused on the statements that will come from US President Donald Trump. While these events are unfolding on the Iranian front, news that the US Supreme Court has overturned Trump's global tariffs has sent shockwaves through the market. The US Supreme Court ruled against Trump's plan to implement tariffs under a national emergency clause. The court determined that the federal regulation intended for national emergencies does not provide a legal basis for the application of comprehensive and permanent global tariffs. Furthermore, the court ruled against Trump on the tariffs with a 6-3 vote.

Following this court decision, Trump has made new moves. President Trump, reacting to the US Supreme Court's decision, stated on social media, "As President of the United States, I will raise the 10% global tariff I have imposed on many countries that have been 'looting' the U.S. for decades and (until I came!) without punishment, to a fully permitted and legally tested 15%, effective immediately." It is still unclear whether previously paid tariffs will be refunded and how the new rates will affect the global economy. In the coming week, markets will closely monitor statements from the US-Iran front and developments regarding global tariffs.

Developments on the Iranian front are particularly important and will have an immediate impact on pricing. Last week's events were essentially a brief simulation of this. Trump's statement, "We could attack Iran within 10 days," caused sharp declines in the markets, while his statement, "We could also reach an agreement...", led to rapid buying in the stock markets. The recent US military buildup in the region has divided public opinion. While some argue that "intervention is inevitable after such a buildup," others maintain that "this step is being taken to force Iran into an agreement." Therefore, this week's market direction will be determined by statements from the Iranian side. Amidst the uncertainty, the price of gold rose again above $5,000 per ounce, closing at $5,108, while silver prices increased by 7.76% to $84.62.