Trump Trade Deal Imminent — Gold Slips While Bitcoin Holds Firm

TradingKey – As markets anticipate a breakthrough in U.S. trade negotiations, risk appetite is rising, leading to a sharp divergence between gold and Bitcoin prices.

During Asian trading hours on Wednesday, July 9, spot gold  (XAUUSD) weakened, briefly dipping below $3,300 before recovering slightly to $3,304.12.

30-Minute Gold Price Chart – Source: TradingKey.

President Donald Trump announced he will unveil trade-related decisions for at least seven countries on Wednesday morning (ET), with additional announcements expected in the afternoon. Markets are increasingly confident that the U.S. has reached preliminary trade agreements, reducing demand for traditional safe-haven assets like gold.

Adding to the pressure:

• The U.S. dollar has strengthened, and
• Treasury yields have risen, both of which typically weigh on gold prices.

Over the past week, gold has slipped nearly 1%, while Bitcoin (BTC) has climbed more than 3%, outperforming gold by a wide margin. As Trump’s new tariff regime advances, analysts expect this gold-BTC performance gap to widen further.

PAXG (tokenized gold) vs. BTC Price Chart – Source: TradingKey