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There's absolutely nothing wrong with that gap. It's perfectly normal and harmless.
That knife wasn't made with the same precision as a Swiss watch. If it had been, there wouldn't be a gap, but it would have cost a LOT more money. You don't get a high level of precision construction on a $50 knife.
Also, rubber handles have some "give" to them, and sometimes that can result in a slightly loose guard and gaps.
If you don't see anything like glue or a weld in the gap when looking from the front then it is most probably just held there by compression.