COMMODITY HEADLINES

 Gold up on geopolitical concerns
 Crude oil rises as traders weigh impact of OPEC decision
 Zinc futures climb 1.15% on rise in Chinese imports
 White metal shines on safe-haven buying

TODAY'S Recommendations
BUY GOLD ABOVE 28920 TGT 29000/29100 SL BELOW 28800
SELL GOLD BELOW 28700 TGT 28600/28500 SL ABOVE 28830
BUY SILVER ABOVE 40300 TGT 40550/40950 SL BELOW 40050
SELL SILVER BELOW 39700 TGT 39450/39200 SL ABOVE 40020

SPECIAL NEWS

The U.S. economy is at or near the Federal Reserve's goals of full employment and stable prices, San Francisco Fed President John Williams said, adding that the U.S. central bank wants to make sure markets stay calm as it slowly returns interest-rate policy to normal."If you remember nothing else I’ve shared with you today, I hope you’ll remember this.

The last thing we want to do is to fuel unnecessary or avoidable volatility or disruption – whether we’re talking about domestic markets or international markets," Williams said in remarks prepared for delivery Monday to the Symposium on Asian Banking and Finance, co-hosted with the Monetary Authority of Singapore.

The Saudi Arabian central bank's foreign assets fell in April as the government borrowed heavily abroad, according to official data that suggested Riyadh was bringing money into the country to refill state coffers depleted by low oil prices.Net foreign assets at the central bank shrank by $8.5 billion from the previous month to $492.9 billion in April, reaching their lowest level since 2011, central bank figures showed on Sunday. They fell 13.9 percent from a year earlier.

"The government has been drawing down the assets, which hit a record high of $737 billion in August 2014, to cover a huge budget deficit caused by cheap oil. It has also coped with the deficit by borrowing abroad; last month it raised $9 billion with an international issue of Islamic bonds.

COMMODITY BUZZ

Gold fell slightly in Asia on Monday, shrugging off the latest missile test byNorth Korea and drifting in trade with China, the U.S. and The U.K. markets shut for holidays.Gold futures for June delivery on the Comex division of the NewYork Mercantile Exchange eased 0.13% to $1,266.42 a troy ounce.Last week, gold rose to a nearly one-month high Friday, shrugginoff a rise in the dollar to a four-day high, following an upward revision to U.S. economic growth and expectations the Federal Reserve would hike its benchmark rate in June.

The U.S. economy grew faster than initially reported during the first three months of 2017, easing concerns about a potential slowdown in the U.S. Economy.

Oil prices remained weak on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply.Traders said activity was likely to be subdued due to public holidays on Monday in China, the United States and Britain.Brent crude futures were trading down 4 cents or 0.1 percent at $52.11 per barrel at 0232 GMT.U.S. West Texas Intermediate (WTI) crude futures were down 6 cents, or 0.1 percent, holding below $50 at $49.74 per barrel.

The Organization of the Petroleum Exporting Countries and some non-OPEC producers agreed last week to extend a pledge to cut production by around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018. But the decision did not go as far as many investors had hoped and led to a heavy sell-off.An initial agreement, which has been in place since January, would have expired in June this year.

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