Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3329 - 3970
Feb 25
3839
Mar 3
3781
Mar 6
3845
Mar 12
3832
Mar 17
3760
Mar 23
3329
Supporting drivers
EUR / USD
1.1596
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.34%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.01%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.