COMMODITY HEADLINES

 Zinc futures plunge by 1.82% on overseas cues
 White metal shines on weak US data
 Copper futures in reverse gear as China growth slows
 Gold glitters on dollar weakness post weak US data
 Oil rises on hopes of extended supply cuts
 Aluminium futures little changed on subdued demand
 Crude oil rises as OPEC production cut likely

TODAY'S Recommendations
BUY GOLD ABOVE 28200 TGT 28300 28500 SL BELOW 28100
SELL GOLD BELOW 27900 TGT 27800 27700 SL ABOVE 28000c
BUY SILVER ABOVE 38900 TGT 39100 39600 SL BELOW 38700
SEL SILVER BELOW 38500 TGT 38300 37800 SL ABOVE 38700

SPECIAL NEWS

China hopes that Sri Lanka can create a good legal, security and public opinion environment for its investment projects in the Indian Ocean country, Premier Li Keqiang told his visiting Sri Lankan counterpart Ranil Wickremesinghe.Chinese investment in Sri Lanka has been controversial.President Maithripala Sirisena is struggling to contain popular opposition to land acquisition for a huge Chinese industrial zone next to Hambantota port in southern Sri Lanka.In 2015.

Sirisena's newly-elected government order a review of the $1.4 billion Colombo port city project, which also has Chinese investment. Both projects are key parts of China's new Silk Road plan.Li told Wickremesinghe, in Beijing for a summit on the new Silk Road, that relations were good and cooperation steadily progressing, according to a Chinese Foreign Ministry statement late Tuesday.

The global economic, financial and political landscape has never been shakier, but the world's rich are confident they can steer through the fog of uncertainty in the coming year "without so much as a dent in their finances", a survey showed on Wednesday.The findings of UBS Wealth Management's survey of more than 2,800 millionaires in seven countries show a high degree of worry about the global financial system on the one hand, and supreme self-confidence and optimism on the other.Some 82 percent of those surveyed said this is the most unpredictable period in history.

COMMODITY BUZZ

Crude prices dropped in Asia on Wednesday after industry estimates showed a surprise build in U.S. oil supplies.On the New York Mercantile Exchange crude futures for June delivery dropped 0.78% to $48.28 after the API figures. On London's Intercontinental Exchange, Brent was last quoted at $51.65 a barrel.U.S. crude inventories rose 882,000 barrels at the end of last week, the American Petroleum Institute (API) said on Tuesday, compared to a decline of 2.3 million barrels seen and last week's figure that showed a 5.789 million barrels decline.

The API estimates are followed by official figures from the Energy Information Administration on Wednesday.Distillate stocks gained 1.79 million barrels and gasoline supplies fell 1.78 million barrels. Supplies at Cushing, Oklahoma, fell by 540,000 barrels. Analysts expected a 1.050 million barrels decline in distillates and an 731,000 barrels dip in gasoline supplies.

Gold gained in Asia on Wednesday on the continued chaotic U.S. political situation weighing on expectations for economic policies favoring tax cuts and higher spending and as key lawmakers call for a memo reportedly written by former FBI director James Comey on Trump discussing an active investigation to be released.

Copper futures on the Comex dipped 0.24% to $2.544 a pound.Overnight, gold prices edged higher on Tuesday, as U.S. political jitters weighed on the dollar, while mostly downbeat economic data dampened expectations of a rebound in second-quarter U.S. economic growth.Sentiment shifted towards safe-havens on Tuesday, as political turmoil in Washington heightened, after two U.S. officials said President Trump disclosed sensitive information to Russia’s foreign minister at a meeting, last week.

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