Gold prices tumbled toward $3370 per ounce in Asia on Thursday, pressured by improved risk appetite as hopes of fresh trade deals between the US and major partners reduced safe-haven demand. COMEX bullion futures fell over 0.6%, while MCX August gold futures slipped 0.7% to ₹98718 per 10 grams. A softer US dollar, with the dollar index falling below 97 to a three-week low, offered partial support to the metal. Investors are now eyeing next week's Federal Reserve meeting, where rates are expected to remain unchanged amid inflation concerns. Meanwhile, the European Union is nearing a trade pact with Washington that would introduce a 15% tariff on EU goods, averting a harsher 30% levy planned for August 1.

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