Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range2956 - 3247
Jul 13
3017
Jul 17
2973
Jul 23
3029
Jul 30
3071
Aug 5
3121
Aug 11
3247
Supporting drivers
EUR / USD
1.1540
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.70%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.43%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.