Even if they're bad, but less so than People expected, we could see prices of gold drop further. "People are going to wait until August to see what these figures show. "In absolute terms net long positions are still at a very high level, meaning that there is further correction potential for the gold price from this side," Commerzbank said in a note. Even so, they remain highly elevated. Palladium, which hit a near nine-month high on Friday, was down 0.1 percent at $679.45.It registered its fifth weekly gain last week, rising 5 percent as sharper appetite for risk helped the more industrial precious metal catch up with its peers, which it lagged in the weeks after the Brexit vote.

Source: Economic Times July 25, 2016 15:31 UTC