COMMODITY HEADLINES

 Mentha oil futures jump 1.97% as demand picks up
 Subdued demand bites cardamom
 Nickel futures zoom 1.93% on global cues
 Zinc futures keep head above water
 White metal loses shine on overseas cues
 Copper futures rise 1.42% on global cues

TODAY'S Recommendations
BUY GOLD ABOVE 28050 TGT 28150 28350 SL BELOW 27950
SELL GOLD BELOW 27900 TGT 27800 28600 SL ABOVE 28000
BUY SILVER ABOVE 38200 TGT 38400 38800 SL BELOW 38000
SELL SILVER BELOW 37800 TGT 37600 37200 SL ABOVE 38000

SPECIAL NEWS

The conclusion of Greece's second bailout review will help the country outperform the EU Commission's revised forecast for 2.1 percent growth this year, the country's government spokesman said on Thursday. After six months of talks and disagreements, Greece reached a deal with its international lenders last week on the reforms it needs to implement in the coming years, paving the way for the conclusion of a crucial bailout review and the disbursement of vital fresh loans.

But the delays have already hurt economic activity in the crisis-hit country. The European Commission on Thursday cut its growth forecast for Greece to 2.1 percent from 2.7 percent this year. Government spokesman Dimitris Tzanakopoulos, however, told reporters that Greece will achieve a primary surplus of 2 percent of GDP this year, versus a 1.75 percent of GDP target. He also said that talks with the lenders over granting Greece further debt relief have progressed but there is no agreement yet over the country's postbailout primary surplus targets. Greece's current bailout expires in 2018.

COMMODITY BUZZ

Gold prices inched higher in European trade on Thursday, but held near their lowest level in around eight weeks amid growing expectations for a U.S. interest rate hike next month. Comex gold futures rose around $4.00, or about 0.3%, to $1,222.70 a troy ounce by 3:05AM ET (07:05GMT). Meanwhile, spot gold was at $1,222.30. The yellow metal hit its lowest since March 15 at $1,214.30 on Tuesday amid fading demand for safe-haven assets.

Markets are pricing in around an 80% chance of a hike at the Fed's June meeting, according to Fed Rate Monitor Tool. The metal is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced. session, gaining 0.4% to a more than two-week high of 99.40 in New York morning trade.

 Oil prices edged higher in European trading on Thursday, extending their biggest one-day jump since December after U.S. government data revealed the largest weekly decline in crude supplies so far this year. The U.S. West Texas Intermediate crude June contract tacked on 46 cents, or around 1%, to $47.79 a barrel by 3:50AM ET (07:50GMT), after rising to a one-week high of $47.85 earlier.

The U.S. benchmark surged $1.45, or around 3.2%, on Wednesday. Elsewhere, Brent oil for July delivery on the ICE Futures Exchange in London rose 48 cents to $50.70 a barrel. The global benchmark rallied $1.49 a day earlier. Oil futures posted their largest one-day gain since December 1 on Wednesday after the U.S. Energy Information Administration said crude oil inventories fell by 5.2 million barrels in the week ended May 5, far exceeding market expectations.

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