Sterling gold remains resilient, with physical buying adding support whenever the market backs off headline highs.
Chart range2974 - 3970
Oct 28
2974
Dec 1
3195
Jan 9
3349
Feb 13
3670
Mar 19
3459
Apr 24
3492
Supporting drivers
EUR / USD
1.1749
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.31%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
1.89%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.