Mumbai, July 23 -- COMEX gold is hovering around its best level in five weeks on Wednesday morning in Asia boosted by safe haven demand amid ongoing tariff uncertainty ahead of August 1st deadline. Trade talks between the EU and the US appear to have stalled, following the White House's imposition of 30% tariffs on EU goods, as per reports. Meanwhile, US Treasury yields continued to drop as the 10-year Treasury note slumps over five basis points (bps) to 4.332%, supporting gains in the yellow metal. The US Dollar Index (DXY), which tracks the greenback's performance against a basket of six currencies, is near a two week low of 97.24. Meanwhile, the precious metal is currently trading at $3436.90 an ounce, down 0.20% on the day.
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