Gold reaches record highs as safe-haven demand surges

Gold has surged to new all-time highs during the European morning session, breaking above $2,650 per ounce as safe-haven demand intensifies amid global economic uncertainties. The precious metal's rally has pressured the US dollar, with the DXY index declining 0.2% to 103.45. European equities showed mixed performance, with the DAX30 down 0.3% while the FTSE100 gained 0.1%. The sustained gold rally reflects growing concerns about global economic stability and expectations of continued monetary easing by major central banks. Technical indicators suggest strong momentum, with RSI readings in overbought territory above 70. Immediate resistance lies at $2,675, while support has formed at the previous high of $2,625. The gold surge typically correlates with dollar weakness, potentially benefiting EUR/USD and other major pairs against the greenback in upcoming sessions.