Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range2335 - 3970
Mar 25
2335
Jun 9
2451
Aug 18
2461
Oct 27
2975
Jan 12
3422
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.