Gold Trims Losses On Soft Dollar After U.S. Tariffs Take Effect

Gold prices narrowed losses on Friday as U.S. tariffs on Chinese imports weighed on the greenback, stoking fears of a full-blown trade war between the two leading economies.

China has implemented additional tariffs on some import products from the United States immediately after U.S. tariffs on $34 billion in Chinese imports took effect, state media reported.

"If the trade war escalates and then China could sell U.S. treasuries and buy gold. This would be a big event," said Helen Lau, analyst, Argonaut Securities.

Spot gold was 0.1 percent lower at $1,256.54 an ounce by 0702 GMT, having dropped to $1,252.15 earlier in the session.

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