The S&P/ASX 200 fell 0.2% to close at 8,589 on Monday, reversing gains from the previous session, pressured by declines in gold stocks. Market caution also persisted as the US is expected to begin notifying countries of higher tariffs this week, with rates set to take effect on August 1 and most trade deals or letters anticipated by July 9. Trump also warned that any country aligning with BRICS' "anti-American policies" would face an additional 10% tariff, with no exceptions. At home, markets have nearly fully priced in a 25bps cut by the RBA on Tuesday - its third this year - bringing the cash rate to 3.6% as inflation and growth eases. However, stronger June job ads and a steady jobless rate point to labor market strength, challenging the dovish outlook. On the corporate side, gold miners dropped over 2% due to lower bullion prices. Heavyweight miners BHP and Rio Tinto also fell 0.3% and 0.2%, respectively. Conversely, healthcare stocks surged 1.9%, led by biotech giant CSL (2.2%).