COMEX gold extends downside near a two-week low on Wednesday morning in Asia amid improving risk appetite after the US and China slash tariff rates. The US and China agreed to reduce tariffs on each other after two days of negotiations in Geneva, Switzerland. The US lowered tariffs on Chinese imports to 30% from 145%, while China cut tariffs on US imports to 10% from 125%. Moreover, interim pause in tensions between India and Pakistan also reduced appeal for the yellow metal. Currently, the counter is quoting at $3234.40 an ounce, down 0.41% on the day.