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GLOBAL MARKET ROUND UP

Precious metals continued to decline on Wednesday, with spot gold dropping to a two-week low and spot silver trading near $61 an ounce, close to six-month lows. The stronger U.S. dollar and expectations of rising interest rates are exerting ongoing pressure on precious metals. The Dollar Index reached a new one-year high, bolstered by increasing speculation that the Federal Reserve may maintain a restrictive policy for an extended period.

Investors remained cautious due to ongoing inflation concerns and mixed signals regarding U.S.–Iran peace negotiations. Sentiment was further affected by remarks from Chicago Fed President Austan Goolsbee, who highlighted that inflation risks are still a concern. His comments, along with last week's hawkish stance from Federal Reserve Chairman Kevin Warsh, strengthened expectations for further policy tightening if inflation does not moderate.

Consequently, recent recoveries in gold prices have been short-lived, with prices swiftly returning to a downward trend. The combination of a stronger U.S. dollar, rising expectations for interest rate hikes, and ongoing worries about inflation has continued to keep precious metals under sustained pressure.

Crude oil prices remained under pressure in early Asian trading as further signs of easing supply disruptions in the Middle East reduced concerns over global energy availability. Tanker traffic through the Strait of Hormuz continued to normalize, while Iran and Oman announced plans to discuss the future administration of navigation through the strategic waterway, underscoring efforts to keep shipping routes open and secure. Additional pressure came from improving regional export flows. According to the IEA, UAE oil exports have recovered to nearly 85% of pre-conflict levels, reinforcing expectations that supply conditions will continue to improve in the coming weeks. Meanwhile, industry data showed U.S. crude inventories fell by approximately 800,000 barrels last week, providing some support to the market. Traders are now awaiting official government inventory figures later in the day for further direction.

Natural gas prices traded firmer after falling more than 3% in the previous session, as concerns over abundant inventories and milder weather weighed on sentiment. Forecasts calling for below-average temperatures across the Mid-Atlantic region between June 23 and 27 are expected to reduce airconditioning demand, limiting natural gas consumption by power generators.

Gold

• Trading Range: 140750 to 144480

• Intraday Trading Strategy: Sell Gold Mini Jul Fut at 143050-143075 SL 144150 Target 142075/141580

Silver

• Trading Range: 226750 to 234950

• Intraday Trading Strategy: Sell Silver Mini Aug Fut at 233025-233050 SL 235050 Target 230750/229050

Crude Oil

• Trading Range: 6805 to 7280

• Intraday Trading Strategy: Sell Crude Oil Jul Fut at 7025-7030 SL 7125 Target 6905/6850

Natural Gas

• Trading Range: 287 to 309

• Intraday Trading Strategy: Sell Natural Gas Jun Fut at 304-305 SL 310.8 Target 295/289

Copper

• Trading Range: 1275 to 1305

• Intraday Trading Strategy: Sell Copper Jul Fut at 1294-1295 SL 1302 Target 1284/1275

Zinc

• Trading Range: 350 to 365

• Intraday Trading Strategy: Sell Zinc Jul Fut at 359.0- 360.0 SL 363.8 Target 356.05/353.0

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