The US move to end exemptions on oil deals with Iran Monday sent Comex gold futures up from the more than four-month low hit last week in trading before the Easter break.
Gold for June delivery rose $US1.60, or 0.1%, to settle at $1,277.60 an ounce. It had settled Thursday at $US1,276, the lowest finish for a most-active contract since December 26, according to FactSet figures.
Gold lost 1.5% for the holiday-shortened week.
That marked gold’s fourth weekly loss in a row after three consecutive weeks of declines.
Comex May silver followed gold higher, adding 1.5 cents, or 0.1%, to settle at $14.97 an ounce, after logging a weekly loss of less than 0.1%.
May copper though fell 0.6% to $US2.904 a pound, adding to last week’s 0.9% fall.
June palladium dropped 1.9% to $US1,371.50 an ounce, more than halving last week’s 3.6% rise, while July platinum fell less than 0.1% to $US903 an ounce, after ending 0.6% higher for last week.
