Gold fell as traders sought to track shifts in US trade policy, with bullion edging lower as President Donald Trump signaled an additional 10% tariff would apply to countries aligned with the BRICS group of nations.
Bullion lost as much as 0.9% to near $3,306 an ounce following the president’s threat, which gave the US dollar a small lift. With the US negotiating deals ahead of an initial July 9 tariff deadline, Treasury Secretary Scott Bessent indicated a possible extension to negotiations, and Commerce Secretary Howard Lutnick said country-by-country tariffs would take effect Aug. 1.