COMMODITY HEADLINES

 Mentha oil futures little changed on muted physical demand
 Uptick in physical demand buoys cardamom futures
 Subdued demand bites nickel futures
 Zinc futures gain on upsurge in demand
 White metal shines on weaker greenback
 Copper futures keep head above water

TODAY'S Recommendations
BUY GOLD ABOVE 28250 TGT 28350 28550 SL BELOW 28150
SELL GOLD BELOW 28000 TGT 27900 28700 SL ABOVE 28100
BUY SILVER ABOVE 38600 TGT 38800 49200 SL BELOW 38400
SELL SILVER BELOW 37800 TGT 37600 37200 SL ABOVE 38000

SPECIAL NEWS

For nearly three years, Democrats and former President Barack
Obama pointed to Kentucky as one of the Affordable Care Act’s big-
gest success stories. A poor, rural state that straddles the North and
South, Kentucky was an early adopter of the healthcare law com-
monly known as Obamacare and saw one of the country’s largest
drops in the uninsured rate.

Now Kentucky is poised for a new dis-
tinction: to be the first state to save money by reducing the number
of people on Medicaid, the government health insurance program for
the poor and disabled and a central tenant of Obamacare. If success-
ful, Kentucky would provide a roadmap for other states who are wor-
ried about paying an increasing share for people on Medicaid. A new
Republican health law that passed the U.S. House of Representatives
on Thursday, along with state initiatives like Kentucky's, would dra-
matically change the national healthcare system and cut more than
$800 billion from Medicaid over the next 10 years.

The Republican
bill still faces a long road ahead in the U.S. Senate and its final pas-
sage is far from assured, making initiatives like Kentucky's all the
more important. Kentucky has proposed to lessen its financial burden
before it grows by reducing the number of residents on Medicaid by
nearly 86,000 within five years, saving more than $330 million in the
process.

COMMODITY BUZZ

Pierre Andurand, who runs one of the biggest hedge funds special-
izing in oil, liquidated the fund's last long positions in oil last week
and is running a very reduced risk at the moment, a market source
familiar with the development said. The fund, Andurand Capital, is
a renowned oil price bull but has been reducing its bullish positions
gradually over the course of 2017, the source said. The $1.5 billion
fund lost 11.6 percent in the first quarter of the year, according to
data from HSBC.


The losses were incurred even as oil prices re-
mained relatively steady during January-February, which also saw
record low volatility levels, undercutting many hedge funds. How-
ever, in March and April oil prices began a steep slide as the market
lost confidence in the ability of oil producing countries to quickly
eradicate a market glut with output cuts.

Gold prices moved higher on Friday, as the U.S. dollar weakened
broadly, although the Federal Reserve’s hawkish stance this week
was expected to limit the precious metal’s gains. On the Comex di-
vision of the New York Mercantile Exchange, gold futures for June
delivery were up 0.42% at $1,233.72. The June contract ended
Thursday’s session 1.59% lower at $1,228.60 an ounce. Futures
were likely to find support at $1,225.70, Thursday’s low and resis-
tance at $1,257.80, Wednesday’s high.

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