Gold price today, May 29 -- Gold rates dropped significantly in the domestic futures market Thursday morning after a US federal court struck down President Donald Trump's tariffs, denting the yellow metal's safe-haven appeal. The strengthening US dollar also weighed on gold prices. MCX Gold June 5 contracts traded 0.52 per cent lower at Rs.94779 per 10 grams around 9:05 AM.

According to Reuters, "a US trade court on Wednesday blocked the enforcement of Trump's 'Liberation Day' tariffs, ruling the president exceeded his authority by imposing universal duties on imports from nations with a trade surplus with the United States."

(This is a developing story. Please check back for fresh updates.)

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