Gold prices surged towards $3,400, marking its largest monthly gain as the USD weakened amid Trump’s trade battles and concerns over U.S. monetary policy. Investors await Fed Chair Jerome Powell’s speech for clues on interest rates. Euro rose by 0.6% as markets await ECB’s decision amidst U.S.–EU trade talks. GBP rose by 0.61% on weak USD, with concerns over tariffs and Fed independence. U.K. data releases expected to show manufacturing improvement and strong services sector growth. BoE may slow long-dated gilt sales amid weak demand.

Read more at Investing.com: Gold Prices Climb Ahead of August Tariff Deadline and Fed Policy Uncertainty