Dollar softness and steadier real yields are keeping dip buyers active. Gold remains expensive, but not euphoric.
Chart range4353 - 4664
Aug 12
4427
Aug 18
4404
Aug 24
4664
Aug 28
4563
Sep 4
4415
Sep 10
4365
Supporting drivers
EUR / USD
1.1616
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.95%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.55%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.