Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3049 - 3466
May 14
3466
May 20
3345
May 27
3294
Jun 2
3343
Jun 8
3233
Jun 12
3123
Supporting drivers
EUR / USD
1.1567
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.48%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.17%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.