Gold rose as the dollar gave up short-lived gains on a court ruling against President Donald Trump’s global tariffs agenda. Bullion rose as much as 1.3% — erasing losses made during the US currency’s brief bounce — as a weaker greenback makes the precious metal more attractive for many buyers in other countries.

For all the White House’s histrionics about a “ judicial coup ” against President Donald Trump’s agenda, the judiciary until Wednesday had only trimmed his policies.

Those tariffs and the prospect of retaliatory ones have been seen as a significant drag on U.S. and global growth and eliminating them — even temporarily — would improve prospects for the world’s majo...