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GLOBAL MARKET ROUND UP

* Commodity markets struggled for direction amid a lack of economic data. A stronger USD weighed on investor appetite.

* Gold steadied after two days of declines, as optimism that the Federal Reserve would soon pivot to monetary easing dwindled further. Gold's widening price gulf with oil may keep signalling investors' flight from risk. The metal's draw stems from a heady mix of inflation and global conflict as investors rush to protect purchasing power.

* Oil's woes reflect anxiety over a potential shift in the market balance on delayed Fed rate cuts, China's challenges, and higher OPEC+ output. OPEC+'s plan to normalize crude output could ease market anxiety over tight oil supply.

* Copper extended recent losses as the stronger USD weighed on investor appetite. Supply tightness earlier this year has been overwhelmed by the global economy’s patchy economic performance.

* Swap markets in early Asian trading on Thursday saw a 57% chance of the US central bank cutting rates in September, down from 60% the day before.

Gold

Trading Range: Aug Fut. 71500 - 70400

Intraday Trading Strategy: Sell Gold Aug Fut at 71120-71220 TGT 70850/70780 SL 71300

Silver

Trading Range: 87700-86100

Intraday Trading Strategy: Sell Silver July Fut at 86700 & 87000 TGT 86200 SL 87150

Crude Oil

Trading Range: 6850-6670

Intraday Trading Strategy: Sell Crude Oil July Fut at 6780 TGT 6670 SL 6840

Natural Gas

Trading Range: 246-219

Intraday Trading Strategy: Sell Natural Gas July Fut at 236 TGT 226 SL 240

Copper

Trading Range: 848 - 826

Intraday Trading Strategy: Sell Copper July Fut at 844 TGT 831 SL 850

Zinc

Trading Range: 260-274

Intraday Trading Strategy: Buy Zinc July Fut at 263 TGT 268 SL 260

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