Repsol Regains Control of Venezuela Oil Fields, -2-

0738 GMT - Gold prices continue to trade above $4,800 a troy ounce, supported by renewed hopes for de-escalation between the U.S. and Iran and a pullback in oil prices that is easing inflation concerns. "While gold initially fell sharply as liquidity pressures forced selling, losses have since partially recovered as growth concerns have re?emerged and price swings have become less extreme," analysts at ING say. "While higher real rates, a firmer dollar, and profit-taking could weigh on near-term price action, recent pullbacks suggest underlying demand remains resilient." In early European trading, New York gold futures are up 0.5% to $4,849.60 a troy ounce. Silver is up 1% to $80.41 an ounce, while platinum rises 0.9% to $2,150.20 an ounce. ([e-mail])

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Copper Rises on Hopes of Mideast Conflict Ending -- Market Talk

0312 GMT - Copper rises in early Asian trade. The prospect of the Middle East conflict ending has eased concerns of slowing economic growth, with signals pointing to stronger copper demand in China, the ANZ Research team writes in a note. March imports of copper ore and concentrate imports rose 6.6% on year, suggesting strong demand from domestic smelters, despite unfavorable treatment charges. Meanwhile, Chinese fabricators have also stepped up purchases to take advantage of the recent low prices, ANZ notes, adding that this has led to a drop in copper inventories in China. The three-month LME copper contract is 0.5% higher at $13,313.50 per ton. ([e-mail])

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Iron Ore Rises on Strong China Economic Data -- Market Talk

0238 GMT - Iron ore prices are higher in early Asian trade, likely boosted by China's resilient economic growth in 1Q. China's economy grew 5.0% in 1Q from a year ago, accelerating from the 4.5% gain in the prior quarter and beating market expectations of a 4.9% increase. Meanwhile, higher diesel prices due to the Middle East conflict raise production and transportation costs, boosting iron ore prices, Galaxy Futures says in a research note. "Unless the U.S.-Iran conflict escalates to extremes, it is unlikely to reverse the pricing logic of a loose supply and demand situation," it adds. The most-traded iron-ore contract on the Dalian Commodity Exchange is 2.2% higher at 776 yuan a ton. ([e-mail])

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Comex Gold Futures May Stage Minor Bounce, Technical Analysis Shows -- Market Talk

0116 GMT - Comex gold futures may stage a minor bounce, based on technical analysis, StoneX's Matt Simpson says in commentary. After finding support at the 50-week exponential moving average, the futures have rebounded strongly and are presently on course for a fourth straight weekly gain, the senior market analyst notes. A move higher can't be ruled out, though the futures could be approaching a top given mild bearish divergence on the two-day relative strength index, while 14-day RSI is threatening to fall below 50 to signal fading momentum. However, an upside break above $4,908 per ounce would invalidate near-term bearish bias and bring $5,000 per ounce into focus, the analyst adds. Spot gold is 0.8% higher at $4,830.57 per ounce. ([e-mail])

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(END) Dow Jones Newswires

04-16-26 1045ET