Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3150 - 3229
Sep 11
3218
Sep 13
3214
Sep 14
3188
Sep 15
3164
Sep 16
3198
Sep 16
3160
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.