Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range2956 - 3118
Jun 24
3058
Jun 30
3045
Jul 6
3103
Jul 10
3054
Jul 16
2956
Jul 22
3108
Supporting drivers
EUR / USD
1.1408
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.67%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.39%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.