Gold/USD approaches record highs as economic uncertainty boosts havens

Gold prices have surged to $2,680 per ounce, approaching all-time highs as economic uncertainty and geopolitical tensions drive safe-haven demand. The precious metal gained 1.2% amid mixed signals from global markets, with EUR/USD volatility and concerns over slowing growth supporting bullion. Bitcoin also rallied 3.5% to $67,500, reflecting broader risk-off sentiment despite the cryptocurrency's typical correlation with risk assets. The US Dollar Index's strength has been partially offset by gold's appeal as an inflation hedge, with traders positioning for potential central bank policy divergence. Technical indicators show gold testing resistance at $2,685, with a breakout potentially targeting $2,700. Support remains firm at $2,650, coinciding with the 20-day moving average. Analysts note that sustained moves above current levels could trigger momentum-based buying, particularly if upcoming economic data disappoints.