Weekly Gold Review: COMEX futures slide near one-week low

COMEX Gold futures slipped towards one-week low of $3340 per ounce, extending losses for a third straight session as easing tariff concerns weighed on safe-haven appetite. Optimism over US trade deals, including a potential pact with the EU following an agreement with Japan, continued to shape market sentiment. The US dollar index also moved up well above 97 mark, pulling down the yellow metal. Currency markets eyed trends in US labour markets and dollar stayed supported ahead of the US Fed monetary policy decision next week. The US jobless claims fell for the sixth consecutive week, reinforcing labor market strength and supporting expectations that the Federal Reserve will keep rates steady next week, even as markets eye a possible rate cut in September.

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