Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3162 - 3421
Aug 24
3421
Aug 28
3359
Sep 3
3310
Sep 9
3255
Sep 14
3162
Sep 18
3258
Supporting drivers
EUR / USD
1.1460
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
5.01%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.68%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.