Euro-priced gold is closer to its upper range, driven by global bullion strength rather than a sharp euro-specific move.
Chart range3483 - 4031
May 5
3916
Jun 10
3615
Jul 15
3561
Aug 20
3838
Sep 25
3737
Oct 30
3503
Supporting drivers
EUR / USD
1.1172
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.94%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.60%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.