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Copper edges higher in the early Asian session amid choppy trade - HDFC Securities
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* Gold stayed within a narrow trading band for a third day, as traders look to upcoming US economic data that may help to clarify when the Federal Reserve could pivot to monetary easing. Gold has started the new quarter in a holding pattern after rising for the previous three, its strongest run since 2020
* Oil traded near a two-month high after breaking out of its recent trading range on an escalation in tensions in the Middle East and concerns over the rapid start to the Atlantic hurricane season
* Israel’s military said 18 soldiers were injured in a drone attack by Iran-backed Hezbollah, one of them seriously, threatening to move the conflict closer to a full-scale war
* Meanwhile, Hurricane Beryl made landfall on Carriacou Island in the Caribbean as a category 4 storm, raising concern that such a severe system this early in the year may portend a serious hurricane season, which is still months away from its typical peak.
* Copper edges higher in the early Asian session amid choppy trade. Prices are likely to remain volatile in the short term. Copper production remains high in China, but demand remains weak. China's official manufacturing PMI for June suggested a contraction in activity, which could weigh on demand for metal.
* The dollar rose and Asian stocks fluctuated in a narrow range as traders weighed the possibility of another Donald Trump presidency in the wake of his debate with Joe Biden last week.
Gold
Trading Range: August 71950 - 71150
Intraday Trading Strategy: Sell Gold Aug Fut below 71350 SL 71500 Target 71150
Silver
Trading Range: Sept. 90150 - 88600
Intraday Trading Strategy: Sell Silver Sept. Fut below 89350 SL 89750 Target 88800
Crude Oil
Trading Range: 6870- 7050
Intraday Trading Strategy: Buy Crude oil July Fut at 6900 SL 6850 TGT 6990
Natural Gas
Trading Range: 195 - 209
Intraday Trading Strategy: Sell Natural Gas July Fut. below 203 SL 208 Target 195
Copper
Trading Range: July Fut 835 - 865
Intraday Trading Strategy: Buy Copper July Fut. above 851 SL 840 Target 865
Zinc
Trading Range: 253 - 278
Intraday Trading Strategy: Sell Zinc July Fut below 260 SL 265 Target 253
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