Place the round roast in the center of a roasting pan and spread the quartered red potatoes around the roast.
In a small mixing bowl, combine the garlic powder, onion powder, salt, pepper and chopped chives. Drizzle the olive oil over the top of the roast in the roasting pan and spread it evenly over the beef. Sprinkle the chive and spice mixture over the top and press gently onto the roast.
Roast at 350 for 2 hours, or until the meat thermometer reads at least 150 degrees. Remove from the oven and let cool for 20 minutes before serving.
Creamy Horseradish-Chive Sauce
In a small mixing bowl, whisk together the sour cream, milk, horseradish and minced garlic. Stir in the chopped chives and the salt and pepper. Let sit in the refrigerator while the roast cooks in the oven.
To serve, slice the beef roast and drizzle the creamy horseradish-chive sauce over the potatoes and the sliced beef.