Season the beef chuck with salt and black pepper. Pat the beef dry with a paper towel. In a large pot, heat the olive oil over medium-high heat. Add the beef in batches, browning for 3-4 minutes on each side, then set aside.

In the same pot, add more olive oil if needed and sauté the chopped onions for 5-7 minutes until soft and translucent.

Stir in the minced garlic, sweet paprika, smoked paprika, caraway seeds, marjoram, and optional cayenne pepper, cooking for about 1 minute.

Mix in the tomato paste, stirring for another minute.

Pour in the beef broth and dry red wine, scraping the pot for any browned bits. Bring to a gentle simmer.

Return the browned beef along with diced tomatoes, red bell pepper, and yellow bell pepper. Stir well and cover, reducing heat to low. Simmer for 2-3 hours.

Add the cubed potatoes and simmer for an additional 30-45 minutes, until fork-tender.

Whisk together sour cream and flour in a separate bowl. Gradually mix this into the goulash, stirring well.

Season with additional salt and pepper if needed. Let it simmer for another 5-10 minutes.

Serve in bowls, garnishing with fresh parsley and pairing with noodles or Spätzle.