COMMODITY HEADLINES
Nickel futures in reverse gear
Zinc futures plunge 1.15% on global cues
White metal loses shine on firm dollar
Copper futures drop 0.21% on subdued demand
Yellow metal loses shine on subdued demand
Crude oil futures in reverse gear
Aluminium futures keep head above water
TODAY'S Recommendations
BUY GOLD ABOVE 29450 TGT 29550 29750 SL BELOW 29350
SELL GOLD BELOW 29380 TGT 29280 29080 SL ABOVE 29500
BUY SILVER ABOVE 41500 TGT 41700 42300 SL BELOW 41300
SELL SILVER BELOW 41100 TGT 40900 40500 SL ABOVE 41300
SPECIAL NEWS
An increasing number of positive signs were seen in the Chinese economy in the first quarter GDP report, finance minister Xiao Jie said in a meeting in Washington last week.
In a notice published on the Ministry of Finance's website on Saturday, Xiao told a G20 summit meeting of the world's top economies that China is making progress on supply-side structural reforms.Over the past two years, Beijing has promoted supply-side reforms aimed at reducing excess industrial capacity and cutting its reliance on debt-driven growth policies.
The populist tsunami that slammed into Britain last year, before sweeping across the Atlantic to the United States, may have faded on the shores of France on Sunday.
Despite a strong performance from far-right leader Marine Le Pen in the first round of France's presidential election, the bigger news was the success of Emmanuel Macron, an independent centrist who rode to victory with a counterintuitive campaign that embraced globalization, immigration and the European Union.
The polls suggest Macron will beat Le Pen soundly in the second round runoff on May 7. If he does, it could open the door to more ambitious reforms of the French economy and an elusive compromise with Germany on overhauling the troubled euro zone.
COMMODITY BUZZ
Gold prices slumped in Asia on Monday as risk concerns eased after theFrench election went widely as expected, pitting centrist Emmanuel Macron and far-right leader Marine Le Pen in a May 7 runoff.
Silver eased 0.09% to $17.907 a troy ounce and copper gained 0.47% to $2.563 a pound.Investors will focus on ahead of Thursday’s European Central Bank meeting and Friday’s euro zone inflation data and preliminary estimates of first quarter growth from the UK and the U.S. on Friday.
Crude prices gained in Asia on Monday in a relief rally after the French election went widely as expected, putting centrist Emmanuel Macron and far-right leader Marine Le Pen in a May 7 runoff.
U.S. West Texas Intermediate crude June contract rose 0.44% to $49.84 a barrel. Elsewhere, on the ICE Futures Exchange in London, Brent oil for June delivery was last quoted up 0.53% to $52.72 a barrel.
Last week, oil futures settled lower for the fifth session in a row on Friday, extending losses to the weakest level in around three weeks as signs of further gains in U.S. crude output pressured prices.
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