Dollar softness and steadier real yields are keeping dip buyers active. Gold remains expensive, but not euphoric.
Chart range4414 - 5210
Mar 9
5086
Mar 13
5045
Mar 19
4600
Mar 24
4414
Mar 30
4529
Apr 7
4612
Supporting drivers
EUR / USD
1.1557
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.33%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
1.96%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.