0329 GMT - Iron ore is higher in early Asian trade, but some analysts remain bearish on prices in the near term. Supply remains high even though having fallen slightly from the peak, Baocheng Futures analysts say in a note. Meanwhile, there are no signs of rising demand, they add. The most actively traded September iron ore contract on the Dalian Commodity Exchange is 0.5% higher at 784.5 yuan a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
Gold Futures' Technical Signals Turning Constructive -- Market Talk
0235 GMT - Gold futures' technical signals are turning increasingly constructive, suggesting the precious metal is likely to form a near-term base, StoneX's Matt Simpson says in commentary. Gold futures' close back above the 200-day simple moving average and the 200-day exponential moving average on Thursday is "constructive for [gold] bulls" in the near term, the senior market analyst says. Also, gold futures have reclaimed a monthly pivot point, while a bullish divergence is forming on the two-day relative strength index, further supporting the case for a near-term rebound, the analyst adds. Spot gold is 0.2% higher at $4,505.45 a troy ounce. (ronnie.harui@wsj.com)
Aluminum Gains as U.S.-Iran Deal Hopes Spark Risk-On Tone -- Market Talk
