Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3347 - 3563
Apr 20
3563
Apr 24
3492
Apr 29
3347
May 6
3456
May 11
3477
May 15
3390
Supporting drivers
EUR / USD
1.1628
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.59%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.10%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.