COMMODITY HEADLINES

 Gold dips as dollar strengthens
 Crude oil dips on rising US crude output
 Nickel futures rise 0.60% on global cues
 Zinc futures surge 1.05% on overseas cues
 Copper futures rise 0.60% on global cues

TODAY'S Recommendations

BUY GOLD ABOVE 29540 TGT 26640 26840 SL BELOW 29440
SELL GOLD BELOW 29200 TGT 29100 28900 SL ABOVE 29300
BUY SILVER ABOVE 42400 TGT 42600 43200 SL BELOW 42200
SELL SILVER BELOW 41850 TGT 41650 41050 SL ABOVE 42000

SPECIAL NEWS

Japan has less room to compromise with the United States under a bilateral trade deal than under a multilateral agreement like the Trans-Pacific Partnership (TPP), its deputy prime minister said, taking a swipe at U.S. attempts to directly pressure Tokyo into opening up heavily-protected markets like agriculture.

Taro Aso, who heads Japan for a newly-created bilateral economic dialogue with the United States, said that under TPP, Japan was able to accede to more U.S. demands as it could make up for the losses through agreements with other countries.

The Trump administration would be working against its "America First" agenda if it were to diminish the United States' leadership role in multilateral institutions including the World Bank, the lender's second-ranking executive said on Wednesday.Kristalina Georgieva, the World Bank Group's new chief executive, said that so far, her meetings with Trump administration officials have not revealed a de- sire to step back from multilateral institutions.

COMMODITY BUZZ

On the New York Mercantile Exchange crude futures for May delivery rose 0.63% to $51.71 a barrel, while on London's Intercontinental Exchange, Brent gained 0.76% to $53.33 a barrel.

Oil prices dropped 4%, the biggest one-day decline since early March, after bearish U.S. inventories data, fueled concerns that the increasing levels of U.S. oil production could weigh on OPEC’s efforts to reduce supply.

Gold prices eased in Asia on Thursday, but remained supported ahead ofFrench polls at the weekend and as Britain gets set to head to the polls this summer highlights political risk.

Gold for June delivery on the Comex division of the New York Mercantile Exchange fell 0.23% to $1,280.50 a troy ounce. Silver futures traded up 0.10% to $18.180 a troy ounce while copper fell 0.16% to $2.524.On Thursday.

Australian miner Rio Tinto (LON:RIO) cut its copper production target due to a strike at the Escondida copper mine in Chile and the ongoing shutdown at the Grasberg mine in Indonesia in its first quarter production report, which also showed that bad weather had weighed on production from its Western Australian iron ore operations and its bauxite business in Queensland.

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