COMMODITY HEADLINES

 Crude oil little changed on global cues
 Sluggish demand drags down lead futures by 0.87%
 Aluminium futures slip 0.48% on subdued physical demand ]
 Mentha oil futures little changed as demand ticks up
 Yellow metal loses shine on higher risk appetite
 Copper futures drop 0.37% on profit-booking

TODAY'S Recommendations
BUY GOLD ABOVE 28550 TGT 28650 28850 SL BELOW 28450
SELL GOLD BELOW 28400 TGT 28300 28100 SL ABOVE 28500
BUY SILVER ABOVE 39250 TGT 39450 40850 SL BELOW 39050
SELL SILVER BELOW 38700 TGT 38500 38100 SL ABOVE 38900

SPECIAL NEWS

The European Union hopes to make enough progress by November on citizens rights and a financial settlement in talks on Britain's exit from the bloc to be able to start discussions on a future relationship with London, the EU's chief negotiator said. Discussions on a future trade deal between Britain and the EU are important to London, which hopes they could be wrapped up by the time Britain leaves the EU on March 29, 2019. EU officials say much more time is likely to be needed.

Michel Barnier told a news conference that such "sufficient progress" would include agreeing with London on a way to calculate what Britain will owe the EU on the day it leaves. He said he could not give even a estimate now, but that it was not his intention to ask Britain to sign a blank check. Such sufficient progress would also include agreeing to a cut-off date, until which EU citizens arriving in Britain would enjoy the same rights as now. The EU wants that to be the date of Britain's withdrawal -- March 29, 2019.

Barnier urged a quick start to the negotiations, warning time was "very short" to settle a lot of very complex issues, and said Britain's elections on June 8 would change nothing in the EU approach to negotiations on Britain's exit.


COMMODITY BUZZ

Oil prices rebounded from near 2017 lows on Wednesday after preliminary data showed a much larger-than-expected fall in U.S. crude stocks, reviving bullish sentiment about easing oversupply. Benchmark Brent crude (LCOc1) was up 35 cents at $50.81 a barrel at 1010 GMT. On Tuesday the futures had settled at their lowest since Nov. 30, when the Organization of the Petroleum Exporting Countries decided to cut oil supply. U.S. West Texas Intermediate (WTI) crude (CLc1) traded at $47.94 a barrel, up 28 cents.

Gold prices struggled near the prior session's three-week lows in European morning trade on Wednesday, as market players looked ahead to the outcome of the Federal Reserve's policy meeting for further clues on the timing of the next rate hike. Comex gold futures lost around $1.00, or less than 0.1%, to $1,256.10 a troy ounce by 2:55AM ET (06:55GMT). Meanwhile, spot gold was at $1,254.80.

Also on the Comex, silver futures inched up 6.6 cents, or about 0.4% to $16.89 a troy ounce, after touching a more than three-month low of $16.80 a day earlier. The Fed is not expected to take action on interest rates at the conclusion of its two -day policy meeting at 2:00PM ET (18:00GMT) on Wednesday. The U.S. central bank will release its post-meeting statement as investors look for any change in language which could point more


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