Euro-priced gold is closer to its upper range, driven by global bullion strength rather than a sharp euro-specific move.
Chart range3803 - 4031
May 5
3916
May 8
4031
May 14
4002
May 19
3870
May 26
3881
May 29
3904
Supporting drivers
EUR / USD
1.1644
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.45%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.07%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.