Dollar softness and steadier real yields are keeping dip buyers active. Gold remains expensive, but not euphoric.
Chart range4002 - 4355
Jun 12
4186
Jun 18
4236
Jun 24
4024
Jun 30
4026
Jul 6
4141
Jul 10
4099
Supporting drivers
EUR / USD
1.1430
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.56%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.32%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.