Euro-priced gold is closer to its upper range, driven by global bullion strength rather than a sharp euro-specific move.
Chart range3483 - 4543
Feb 2
3982
Mar 9
4402
Apr 15
4094
May 20
3865
Jun 25
3528
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.