Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3301 - 3873
Mar 3
3781
Mar 9
3809
Mar 13
3802
Mar 20
3413
Mar 26
3341
Apr 1
3557
Supporting drivers
EUR / USD
1.1605
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.33%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.02%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.