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Gold prices recovered from earlier losses on Monday after Trump announced 25% tariffs on imports from Japan and South Korea starting August 1st, according to Reuters. The move prompted interest in safe-haven assets despite a strong U.S. dollar. Spot gold ended down just 0.1% after an initial 1% slide. The dollar index rose 0.4%, making gold more expensive for holders of other currencies. Major U.S. stock indexes dipped following the tariff news. Analysts noted ongoing safe-haven buying by central banks, including China's eighth consecutive month of gold purchases in June. Bank of America expects this trend to continue as central banks seek to reduce reliance on the dollar and hedge against volatility.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Gold prices recovered from earlier losses on Monday after President Trump announced 25%
00:06tariffs on imports from Japan and South Korea starting August 1st, according to Reuters.
00:11Moved profit and interest in safe haven assets despite a strong U.S. dollar.
00:15Spot gold ended down just 0.1% after an initial 1% slide.
00:19Dollar index rose 0.4%, making gold more expensive for holders of other currencies.
00:23Major U.S. stock indexes dipped following the tariff news.
00:26Analysts noted ongoing safe haven buying by central banks, including China's eight consecutive
00:31month of gold purchases in June.
00:34Bank of America expects this trend to continue as central banks seek to reduce reliance on
00:38the dollar and hedge against volatility.
00:40For all things money, visit Benzinga.com.

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