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GLOBAL MARKET ROUND UP

Gold prices edged higher on Monday as easing geopolitical tensions and progress in U.S.–Iran negotiations improved market sentiment. Efforts to secure the reopening of the Strait of Hormuz helped reduce concerns over energy supply disruptions and the risk of a broader inflation shock, providing initial support to precious metals.

However, the recovery proved short-lived, with gold slipping in Asian trading on Tuesday as inflation concerns and expectations of tighter monetary policy returned to the forefront. Persistent price pressures linked to nearly four months of conflict in the Middle East have increased speculation that major central banks may need to keep interest rates elevated for longer, a challenging environment for non-yielding assets such as gold and silver. The cautious tone was reinforced by comments from Federal Reserve Bank of Chicago President Austan Goolsbee, who expressed concern that inflation could remain stubbornly high. Investors also continued to digest last week's hawkish signals from Federal Reserve Chairman Kevin Warsh, which strengthened expectations for further policy tightening if inflation fails to moderate.

Meanwhile, the U.S. dollar remained near its strongest level since May 2025, with the Dollar Index hovering around the 101 mark. The combination of a firmer dollar and rising expectations for higher interest rates continued to weigh on bullion, offsetting support from improving prospects for a lasting U.S.–Iran peace agreement.

Crude oil prices steadied above $73 per barrel on Tuesday after recent weakness, as investors evaluated early signs of progress in ongoing U.S.–Iran peace negotiations. Market sentiment improved after reports that Washington had granted Iran a temporary 60-day license to sell oil internationally, raising expectations that additional supplies could gradually return to the global market. Supply concerns also eased as regional producers, including Kuwait and the United Arab Emirates, have expanded alternative export routes, while Iran significantly increased crude shipments over the past week, helping to reduce fears of prolonged disruptions.

Despite the improving supply outlook, uncertainty surrounding Iran's nuclear program continues to limit downside in oil prices. Conflicting statements from U.S. and Iranian officials regarding nuclear inspections highlight that key issues remain unresolved, leaving traders cautious as negotiations continue.

Gold

• Trading Range: 143750 to 146180

• Intraday Trading Strategy: Sell Gold Mini Jul Fut at 145450-145475 SL 146180 Target 144780/143900

Silver

• Trading Range: 226900 to 237780

• Intraday Trading Strategy: Sell Silver Mini Jun Fut at 234750-234775 SL 236900 Target 231900/230750

Crude Oil

• Trading Range: 6850 to 7480

• Intraday Trading Strategy: Buy Crude Oil Jul Fut at 6980-700 SL 6850 Target 7105/7175

Natural Gas

• Trading Range: 292 to 319

• Intraday Trading Strategy: Buy Natural Gas Jun Fut at 304-305 SL 297.8 Target 312.8/315

Copper

• Trading Range: 1280 to 1319

• Intraday Trading Strategy: Sell Copper Jun Fut at 1309-1310 SL 1316.8 Target 1304.8/1297

Zinc

• Trading Range: 362 to 372

• Intraday Trading Strategy: Sell Zinc Jun Fut at 369.0- 369.5 SL 372.8 Target 365.80/363.0

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