COMMODITY HEADLINES

 Crude oil rises on OPEC meet optimism
 Silver up on firm global cues
 Gold dips as US dollar stabilizes
 Nickel futures in reverse gear
 Zinc futures keep head above water
 Lead futures keep head above water

TODAY'S Recommendations
BUY GOLD ABOVE 28785 TGT 28885 29085 SL BELOW 28685
SELL GOLD BELOW 28500 TGT 28400 28200 SL ABOVE 28600
BUY SILVER ABOVE 39300 TGT 39500 40000 SL BELOW 39100
SELL SILVER BELOW 38800 TGT 38600 38000 SL ABOVE 39000

SPECIAL NEWS

Asian trade ministers met on Monday to discuss a proposed free trade deal that is backed by China and has been given new impetus by the U.S. withdrawal from the Trans-Pacific Partnership Agreement.The Regional Comprehensive Economic Partnership (RCEP) would create a free trade area of more than 3.5 billion people, bringing together China, India, Japan, South Korea, Australia and New Zealand as well as Southeast Asian nations."RCEP is the biggest trade agreement being negotiated at the moment," Vietnam's trade minister, Tran Tuan Anh, said at the opening. "RCEP will provide a unified framework which further facilities and promotes good services investment and trade vision.

"Monday's meeting in Hanoi followed heated discussions there at the weekend at the first gathering of trade ministers from Asia Pacific Economic Cooperation (APEC) countries since U.S. President Donald Trump's switch to an "America First" agenda.

Euro zone finance ministers and the International Monetary Fund will seek a deal on Monday on Greek debt relief that balances the IMF's demand for a clear "when and how" with Germany's preference for "only if necessary" and "details later".

Without the loans, Athens is likely to default - a bad start for a country that wants to return to market financing next year when its latest bailout, the third since 2010, ends in mid-2018.For its part, Greece has done what it could to secure a deal. It has agreed, albeit after months of negotiations, with the euro zone lenders and the IMF on pensions and tax reforms.

COMMODITY BUZZ

Oil prices rose on Monday, supported by reports that an OPEC-led supply cut may not only be extended into next year but might also be deepened to tighten the market and prop up prices.Brent crude futures were up 32 cents, or 0.6 percent, from their last close at $53.93 per barrel at 0145 GMT.U.S.

West Texas Intermediate (WTI) crude futures were back above$50 per barrel, trading up 32 cents, or 0.6 percent, at $50.65.Both benchmarks have risen more than 10 percent from their May lows early in the month.Prices have risen because of expectations that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, to cut supplies by 1.8 million barrels per day (bpd) would be extended to March 2018, instead of covering just the first half of this year.

Gold prices were higher on Friday and notched the largest weekly gain since mid-April as political uncertainty surrounding the Trump administration pressured the dollar lower, boosting demand for the precious metal.Gold for June delivery closed up 0.18% at $1,255.07 on the Comex division of the New York Mercantile Exchange. For the week, the precious metal was up 2.06%.The dollar came under renewed selling pressure on Friday following reports that a senior White House adviser is a person of interest in the investigation into alleged Russian interference in November’s presidential election

The Justice Department on Wednesday appointed a former FBI director as special counsel to investigate possible coordination between the Trump campaign and Russia.The appointment of a special counsel comes after Trump fired James Comey, his FBI director who was leading a probe into Russia’s role in the election and reports that he attempted to interfere with the judicial process, leading to talk of possible impeachment.

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