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GLOBAL MARKET ROUND UP

* Gold edged marginally lower on Monday due to a potential slowdown in seasonal demand for physical gold, reflecting "worry about the worsening recession in Jewellery and retail investment demand, particularly in China." However, the demand for a safe haven following President Joe Biden's decision to end his re-election bid capped a heavy fall in precious metals.

* Crude oil was steady after declining near a six-week low in the previous session as traders waited for fresh clues on market balances, including the outlook for US stockpiles.

* On Monday, natural gas prices posted sharp gains as US weather forecasts turned warmer, which will boost natural gas demand from electricity providers to run air conditioning.

* Copper dropped as base metals extended the worst weekly slump in almost two years, with a modest rate cut in China doing little to offset worries about demand in the world’s top commodities consumer.

* Stocks in Asia followed a rebound on Wall Street as investors looked beyond Joe Biden ending his re-election campaign to focus on the start of the tech earnings season.

* India’s finance minister is set to unveil the budget today, which is expected to stick to plans for curbing the deficit. From the US side, US existing-home sales will probably show a 3% decline in June from the prior month.

Gold

Trading Range: 72300 to 73100

Intraday Trading Strategy: Sell Gold Aug. at 73000- 73050 SL 73300 Target 72580/72300

Silver

Trading Range: 87300 to 89780

Intraday Trading Strategy: Sell Silver Sept Fut at 89400-89450 SL 90050 Target 88350/87700

Crude Oil

Trading Range: 6445 to 6650

Intraday Trading Strategy: Sell Crude Oil Aug Fut at 6580-6600 SL 6665 Target 6480

Natural gas

Trading Range: 175 to 204

Intraday Trading Strategy: Sell Natural gas at 194 SL 199 Target 188/184

Copper

Trading Range: 804 to 822

Intraday Trading Strategy: Sell Copper July Fut at 814-815 SL 819 Target 80

Zinc

Trading Range: 257 to 266

Intraday Trading Strategy: Buy Zinc July Fut at 259 SL 257 Target 266

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