Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3301 - 3873
Mar 9
3809
Mar 13
3802
Mar 18
3659
Mar 24
3301
Mar 27
3392
Apr 2
3512
Supporting drivers
EUR / USD
1.1525
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.34%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
1.98%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.