Gold prices surged to a five-week high above $3,431, driven by a weaker USD, escalating US tariff threats, and tensions in the Middle East. Investors flock to gold as a safe haven amid economic uncertainty, with central banks diversifying reserves. Trade developments support the euro as concerns over trade negotiations with the US grow. The Australian dollar rises to 0.65600 on improving global risk sentiment, boosted by a major tariff deal between the US and Japan. Despite softer domestic data, the AUD benefits from easing trade tensions and expectations of a potential extension to US-China trade talks.

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