{"id":26992,"date":"2025-07-23T08:53:58","date_gmt":"2025-07-23T08:53:58","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=26992"},"modified":"2025-07-23T08:53:58","modified_gmt":"2025-07-23T08:53:58","slug":"gold-stalls-as-japan-deal-triggers-risk-rally","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-asia\/analysis\/gold-stalls-as-japan-deal-triggers-risk-rally\/","title":{"rendered":"Gold Stalls as Japan Deal Triggers Risk Rally"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/en-asia\/wp-content\/uploads\/sites\/27\/2026\/03\/gold9-1024x559.png\" alt=\"\" class=\"wp-image-16982\" \/><\/figure>\n\n\n\n<p><strong>Key points<\/strong> <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Spot gold drops 0.2% to $3,423.08 after Trump\u2019s $550B trade pact with Japan lifts risk appetite <\/li>\n\n\n\n<li>Rising dollar and 10Y yields pressure bullion, capping its three-day winning streak<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>Gold prices edged lower on Wednesday, cooling off after a sharp three-day rally as markets digested the latest U.S.-Japan trade agreement. Spot gold declined 0.2% to $3,423.08 per ounce, while U.S. gold futures also fell 0.2% to $3,435.90.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Gold eases as US-Japan trade deal lifts risk appetite; weak dollar caps losses <a href=\"https:\/\/t.co\/4TlL4ksROL\">https:\/\/t.co\/4TlL4ksROL<\/a> <a href=\"https:\/\/t.co\/4TlL4ksROL\">https:\/\/t.co\/4TlL4ksROL<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1947924697108173185?ref_src=twsrc%5Etfw\">July 23, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The move came after prices touched $3,438.93, the highest level since 16 June, before losing steam.<\/p>\n\n\n\n<p>The deal, announced by President Trump, <a href=\"https:\/\/t.co\/PcdQTO3COg\" target=\"_blank\" rel=\"noopener\" title=\"\">promises a reduced tariff<\/a> of 15% on Japanese auto imports, down from the previously threatened 25%.<\/p>\n\n\n\n<p>In exchange, Japan will direct a $550 billion investment and loan package into the U.S., boosting investor sentiment and sparking a rotation out of safe haven assets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>Gold surged on Monday evening, with prices climbing from a low of $3383.36 to a sharp peak of $3438.93 before momentum tapered. Since then, price has settled into a narrow band just above the 3420 mark, with volatility drying up.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-asia\/wp-content\/uploads\/sites\/27\/2026\/03\/2_image-24.jpg\" alt=\"\" class=\"wp-image-26993\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Gold chills after a sharp sprint, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" target=\"_blank\" rel=\"noopener\" title=\"\">VT Markets app<\/a><\/em><\/p>\n\n\n\n<p>The MACD histogram shows waning bullish momentum, while the lines remain flat near the zero axis, suggesting indecision.<\/p>\n\n\n\n<p>The 15-minute moving averages are now flattened and converging\u2014pointing to a consolidation phase. Traders should watch for a clean breakout above $3440 or a breakdown below $3416 for fresh directional cues, especially as markets digest recent geopolitical headlines and US macro prints.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Dollar And Yields Add Pressure<\/h2>\n\n\n\n<p>The U.S. dollar index (USDX) rose 0.1%, adding to gold\u2019s woes by increasing the relative cost for non-dollar buyers.<\/p>\n\n\n\n<p>Meanwhile, the <a href=\"https:\/\/t.co\/oMJozcuORd\" target=\"_blank\" rel=\"noopener\" title=\"\">10-year U.S. Treasury yield rebounded<\/a> from near two-week lows, further undercutting gold by raising the opportunity cost of holding non-yielding metal.<\/p>\n\n\n\n<p>With U.S. and Chinese officials <a href=\"https:\/\/t.co\/jiFhehroMU\" target=\"_blank\" rel=\"noopener\" title=\"\">set to meet in Stockholm<\/a> next week and the Fed\u2019s policy meeting on July 29\u201330, traders will watch closely for signals on rate outlook and geopolitical direction.<\/p>\n\n\n\n<p>At present, markets expect rates to remain on hold, though sticky inflation or fresh data could shake assumptions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Cautious Forecast<\/h2>\n\n\n\n<p>Gold\u2019s short-term rally appears to have stalled at $3,438, with broader risk sentiment improving and safe haven flows fading. If yields and the dollar continue to strengthen, gold may struggle to reclaim momentum.<\/p>\n\n\n\n<p>A period of consolidation between $3,416 and $3,438 is likely ahead of the Fed\u2019s decision. Traders should remain vigilant, especially if geopolitical talks or macro data introduce fresh volatility.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Create your live VT Markets account<\/a> and <a href=\"https:\/\/myaccount.vtmarkets.com\/login?_gl=1*5vyjdn*_gcl_au*Njc1MzM0NjY0LjE3NTEzNTM4MTc.*_ga*MjA5ODA0NDIzNC4xNzI3OTE1ODQ1*_ga_J26NL1ZVX7*czE3NTE4NzkxMDYkbzMwOCRnMSR0MTc1MTg3OTExOCRqNDgkbDAkaDA.*_ga_6XQ8153GYW*czE3NTE4NzkxMDgkbzU3JGcxJHQxNzUxODc5MTE4JGo1MCRsMCRoMA..*_ga_BG6LYEHPX1*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMTgkajUwJGwwJGgw*_ga_J8BRGZSREX*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_7CG6454YR5*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_69Z54R4H9N*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_CY2VCKFC3C*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_TXZ07R2C21*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_17TMGY9BBE*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_MWDVVSEVL5*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_2QCC3S2748*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_E7D2PCX624*czE3NTE4NzkxMjYkbzUkZzAkdDE3NTE4NzkxMjYkajYwJGwwJGgw*_ga_XJ4037XKK6*czE3NTE4NzkxMjYkbzUkZzAkdDE3NTE4NzkxMjYkajYwJGwwJGgw*_ga_EJCVQDC7VT*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjYkajQyJGwwJGgw\" target=\"_blank\" rel=\"noopener\" title=\"\">start trading<\/a> now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold pulls back from one-month highs as dollar rebounds and yields climb. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":64,"featured_media":16982,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[6],"class_list":["post-26992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-gold"],"acf":{"acf_article_selection_author":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/26992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/comments?post=26992"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/26992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media\/16982"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media?parent=26992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/categories?post=26992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/tags?post=26992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}