Dollar softness and steadier real yields are keeping dip buyers active. Gold remains expensive, but not euphoric.
Chart range4089 - 4330
Sep 21
4324
Sep 25
4261
Oct 1
4152
Oct 7
4095
Oct 13
4170
Oct 19
4148
Supporting drivers
EUR / USD
1.1215
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
5.15%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.80%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.