Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3301 - 3599
Mar 19
3459
Mar 25
3408
Mar 31
3480
Apr 7
3482
Apr 13
3519
Apr 17
3599
Supporting drivers
EUR / USD
1.1797
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.26%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
1.90%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.