Gold reversed early losses to rise above $3,430 per ounce, hitting its highest level since June 16, as US Treasury yields and the dollar continued to weaken amid persistent uncertainty over trade negotiations. With President Donald Trump's August 1 tariff deadline looming, fears grew that the US and EU may fail to reach an agreement. EU diplomats reportedly began weighing broader countermeasures should Trump follow through on his threatened 30% levy on EU goods. Meanwhile, Treasury Secretary Scott Bessent announced plans to meet with his Chinese counterpart next week, hinting at a possible extension of the August deadline. Bessent also spoke of a "rash of trade deals" with other countries, though he offered no specifics. On the monetary policy front, the European Central Bank is expected to hold rates steady at 2.0% later this week following a series of cuts, while the US Federal Reserve’s policy decision is due next week.