Gold prices trimmed earlier losses after President Trump announced a 25% tariff on goods from Japan and South Korea, set to begin August 1.
While gold initially dipped due to a stronger dollar—boosted by talk of broader tariffs on BRICS-aligned nations—investors quickly turned back to gold as a safe haven amid renewed trade uncertainty.
Bullion remains up over 25% for the year, supported by central bank buying and strong ETF inflows. With markets bracing for further tariff threats, gold’s role as a hedge remains firmly in focus.