Euro-priced gold is closer to its upper range, driven by global bullion strength rather than a sharp euro-specific move.
Chart range2854 - 4543
Aug 4
2923
Oct 14
3572
Dec 22
3765
Mar 9
4402
May 20
3865
Jul 30
3582
Supporting drivers
EUR / USD
1.1485
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.75%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.47%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.