Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range2676 - 3970
Sep 17
2698
Nov 26
3138
Feb 11
3712
Apr 23
3494
Jul 6
3103
Sep 15
3186
Supporting drivers
EUR / USD
1.1537
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
5.00%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.62%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.