Dollar softness and steadier real yields are keeping dip buyers active. Gold remains expensive, but not euphoric.
Chart range4001 - 4483
Jul 22
4155
Jul 28
4022
Aug 3
4028
Aug 10
4324
Aug 14
4391
Aug 20
4483
Supporting drivers
EUR / USD
1.1681
FX translation changes what non-USD investors actually pay for gold, even when XAU/USD is steady.
U.S. 10Y
4.69%
Nominal Treasury yields frame the opportunity cost of holding non-yielding bullion.
10Y real yield
2.35%
Inflation-adjusted rates are one of the clearest macro pressure points for gold demand.