Overview
- Government bond yields have recently moved higher and pressured the gold price by increasing the cost of holding an asset that pays no interest, helping push spot gold well below its March euro closing record.
- Spot gold is trading around €3,700 per ounce and about €119 per gram according to market data, a material retreat from the €4,553 closing high recorded on 2 March 2026.
- Comments from New York Fed President John Williams that another rate rise this year could be appropriate but further hikes may not be needed in 2027 briefly eased yields and provided short‑term support for gold.
- Large selling by trend‑following and algorithmic funds has added downside pressure, but robust physical buying from retail and institutional buyers has absorbed much of that supply and limited price falls.
- Buyers should note the difference between the market spot price and what they pay for physical gold because premiums, product size, LBMA certification and national rules such as Germany’s €1,999.99 anonymous purchase cap affect cost and liquidity.