COMEX gold extends downside on Friday morning in Asia as trade tensions seemingly ease lending support to positive risk sentiment. Data from the United States revealed that the number of Americans filing for unemployment benefits dipped below forecasts, suggesting a strong labour market. However, the S&P Global Manufacturing PMI fell into contraction territory, dropping to 49.5 from June's 37-month high of 52 and missing expectations of 52.5 signaling weakness. The Services PMI rose to 55.2, beating the 53.0 forecasts and improving from 52.9 in June, indicating robust growth in the services sector. Meanwhile, US Treasury yields rose with the 10-year Treasury note climbing three basis points up to 4.416% and the US Dollar Index (DXY), which tracks the greenback's performance against a basket of six currencies, is up 0.24% at 97.36. Gold futures are currently see trading at $3363.40 an ounce, down 0.30% on the day.

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