COMMODITY HEADLINES
Copper gains 0.35% on strong German data.
Zinc slides on bearish buying interest .
Weak demand drags down Lead futures .
Crude oil gains as Iraqi output slows from record levels.
Gold drops as markets see prospects of Fed rate hike.
Silver in low gear amid Fed rate outlook.
GOLD
BUY GOLD 29350 TARGET 29450 29600 SL 29250
SELL GOLD BELOW 29250 TARGET 29150 29000 SL 29351
SILVER
BUY SILVER ABOVE 39600 TARGET 39850 40150 SL 39350
SELL SILVER BELOW 39290 TARGET 39100 38300 SL 39500

SPECIAL NEWS

German economic sentiment indicator dropped in May as theGerman business confidence strengthened more than expected in May, reports said citing survey results from Ifo Institute. The Ifo Business Climate indicator rose to 107.7 in May from 106.6 in April. The current conditions index came in at 114.2, up from 113.2 in the prior month The expectations index also rose to 106.6 from 100.4.

Confidence among Indian businesses fell to a five-month low in May led by weak export orders and higher raw materials costs. The MNI India Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, fell to 61.8 in May from 62.4 in April. This is the third consecutive decline and was led solely by the manufacturing sector, while sentiment among construction and service sector firms improved.

COMMODITY BUZZ

Oil prices inched towards $50 a barrel in early Asian trade on Thursday, after U.S. government figures showed a sharper-than-expected  drawdown of crude stocks last week as imports dropped.Buoyant stock markets also supported prices, with the Dow Jones industrial average (DJI), the S&P 500 (SPX) and the Nasdaq Composite (IXIC) all climbing overnight.But gains in oil were capped as the U.S. dollar hovered near an eight-week high against a basket of currencies (DXY).

Gold prices eased in Asia on Thursday with the market looking ahead to comments from Fed Chair Janet Yellen and U.S. GDP data at the end of the week.On the Comex division of the New York Mercantile Exchange, gold for June delivery fell 0.09% to $1,222.75 a barrel.Silver futures for July delivery rose 0.12% to $16.280 a troyounce. Copper futures for July delivery were flat at $2.103 a pound.

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