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GLOBAL MARKET ROUND UP

Gold edged higher in Asian trade on Tuesday, supported by strong physical demand, particularly from China, and continued central bank purchases, which remain key pillars of the bullion market. While gold continues to face near-term pressure from expectations that the Federal Reserve will maintain a restrictive monetary policy and a relatively firm U.S. dollar, investment positioning has become relatively light following months of outflows from exchange-traded funds. This leaves room for renewed investor interest if market sentiment improves.

Precious metals also drew support from easing geopolitical tensions after signs of renewed diplomatic engagement between the U.S. and Iran. Iran's Foreign Ministry spokesperson said negotiations with the U.S. could be pursued based on national interests, raising hopes for a diplomatic breakthrough. The comments weighed on crude oil prices providing additional support to gold prices. Going forward, developments in U.S.-Iran relations, movements in the U.S. dollar, and expectations for the Federal Reserve's policy path will remain the key drivers of gold prices in the near term.

Crude oil edged lower in early Asian trading on Tuesday as hopes for renewed diplomatic engagement between the U.S. and Iran eased immediate concerns over supply disruptions in the Middle East. Reports indicated that mediators were working to broker a new ceasefire and bring both sides back to the negotiating table, improving market sentiment and reducing the geopolitical risk premium that had driven oil prices sharply higher in recent sessions.

However, losses remained limited as the situation in the Strait of Hormuz continued to support prices. Navigation through the vital shipping route remains severely restricted, keeping physical crude supplies tight and raising concerns over potential disruptions to global oil flows. As a result, while optimism over diplomacy has weighed on prices, ongoing logistical risks in the region continue to provide underlying support to the oil market.

Natural gas prices remained at the lower end of their recent trading range, pressured by concerns that a tropical depression in the Gulf of Mexico could strengthen into Tropical Storm Bertha and disrupt LNG export operations along the U.S. Gulf Coast. Any disruption to export facilities could temporarily reduce LNG shipments, leaving more natural gas available in the domestic market and increasing supply, which has weighed on prices.

Gold

• Trading Range: 140750 to 143900

• Intraday Trading Strategy: Buy Gold Mini Aug Fut at 141650-141675 SL 141180 Target 142550/143080

Silver

• Trading Range: 221850 to 226750

• Intraday Trading Strategy: Buy Silver Mini Aug Fut at 223025-222050 SL 21900 Target 224780/225400

Crude Oil

• Trading Range: 7580 to 8150

• Intraday Trading Strategy: Sell Crude Oil Aug Fut at 7975-7980 SL 8150 Target 7780/7705

Natural Gas

• Trading Range: 267 to 289

• Intraday Trading Strategy: Sell Natural Gas Jul Fut at 279-280 SL 284.8 Target 273.80/271

Copper

• Trading Range: 1305 to 1335

• Intraday Trading Strategy: Buy Copper Jul Fut at 1317-1317.80 SL 1312 Target 1324/1329

Zinc

• Trading Range: 371 to 380

• Intraday Trading Strategy: Sell Zinc Jul Fut at 377.0- 377.5 SL 380.8 Target 374.05/372.0

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