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China Gold Reserves

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business6 months ago

Gold stabilizes as Trump imposes 25% tariffs on Japan and South Korea

Gold prices initially dropped over 1% following Trump's announcement of 25% tariffs on imports from Japan and South Korea, but recovered slightly to a small decline as safe-haven demand increased, despite a strong US dollar. Meanwhile, China's central bank continued to buy gold, diversifying reserves amid geopolitical uncertainty. Stock markets declined in response to the tariffs, and other precious metals also saw declines.