Euro-priced gold is closer to its upper range, driven by global bullion strength rather than a sharp euro-specific move.
Chart range3483 - 4443
Mar 12
4443
Apr 20
4093
May 27
3803
Jun 30
3533
Aug 4
3547
Sep 9
3789
Supporting drivers
EUR / USD
1.1616
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.95%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.55%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.