Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range3002 - 3089
Jul 27
3071
Jul 28
3045
Jul 29
3027
Jul 30
3049
Jul 30
3067
Aug 1
3014
Supporting drivers
EUR / USD
1.1485
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.75%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.47%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.