Dollar softness and steadier real yields are keeping dip buyers active. Gold remains expensive, but not euphoric.
Chart range4466 - 5314
Feb 25
5192
Mar 3
5034
Mar 6
5128
Mar 12
5130
Mar 17
5017
Mar 23
4466
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.