AsianFin -- Gold edged lower Monday as investors reacted to evolving U.S. trade policy and a firmer dollar, after U.S. President Donald Trump warned of an additional 10% tariff on countries aligning with the BRICS bloc.

Spot gold fell as much as 0.9% to around $3,306 an ounce following the announcement, which lent modest support to the greenback. Trump’s administration is racing to finalize trade deals ahead of a July 9 deadline, with Treasury Secretary Scott Bessent signaling the possibility of a three-week extension and Commerce Secretary Howard Lutnick confirming that country-specific tariffs would begin taking effect on August 1.

Despite the pullback, gold remains more than 25% higher year-to-date and is trading roughly $190 below April’s record high. The metal has been buoyed by safe-haven flows amid mounting geopolitical and trade uncertainty, continued central bank purchases, and sustained demand through gold-backed exchange-traded funds.