Gold near 2-week highs on EU-US trade uncertainty, EUR/USD volatile

Gold prices are holding near two-week highs as persistent EU-US trade uncertainty drives safe-haven demand, with spot gold maintaining levels above key support. The precious metal's strength reflects ongoing concerns about transatlantic trade relations despite temporary tariff delays. EUR/USD continues experiencing elevated volatility as markets balance trade developments against diverging monetary policy expectations between the ECB and Federal Reserve. The British pound faces pressure against the dollar amid UK economic concerns, while the Dollar Index shows mixed signals as traders weigh US fiscal dynamics. Technical analysis suggests gold's correlation with currency volatility remains strong, particularly affecting commodity currencies. Near-term resistance for gold sits at recent highs while support has formed at the 50-day moving average. Currency traders are positioning for continued volatility across major pairs as trade negotiations evolve and central banks navigate policy decisions.