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GLOBAL MARKET ROUND UP

Bullion came under pressure following the latest hawkish comments from a Federal Reserve policymaker, which have hit investors' hopes for an imminent pivot to monetary easing. Fed Governor Michelle Bowman said she sees a number of upside risks to the inflation outlook and reiterated the need to keep borrowing costs elevated for some time. Higher rates generally have a negative impact on bullion.

On the macro front, US consumer confidence eased this month on a more muted outlook, slipping to 100.4 from May’s downwardly revised 101.3. In April, home-price gains slowed to 6.3% year over year.

Crude oil declined on Tuesday as a stronger dollar and weakness in technical measures overshadowed rising geopolitical risks. Meanwhile, an industry report signaled a small build in US crude inventories ahead of official data.

Natural gas futures fell almost 2% on a minor increase in supply and lowerthan-expected demand projections for the next two weeks.

Copper fell to the lowest in more than two months, extending a fall from an alltime high, with prices facing sustained pressure from unusually weak Chinese demand and higher Asian inventory.

Gold

Trading Range: 70750-71800

Intraday Trading Strategy : Sell Gold mini Aug Fut at 71550--71575 TGT 71200 SL 71700

Silver

Trading Range: 85580-88825

Intraday Trading Strategy : Sell Silver Jul Fut at 87450-87500 TGT 86300/85600 SL 88050

Crude Oil

Trading Range: 6680-6865

Intraday Trading Strategy : Sell Crude Oil Jul Fut at 6800 TGT 6735 SL 6850

Natural Gas

Trading Range: 226-250

Intraday Trading Strategy : Sell Natural Gas Jul Fut at 239 TGT 233 SL 244.80

Copper

Trading Range: 832-850

Intraday Trading Strategy : Sell Copper Jul Fut at 843-844 TGT 836 SL 848.80

Zinc

Trading Range: 255-263

Intraday Trading Strategy : Sell Zinc Jul Fut below 257 TGT 255.0/253.80 SL 259.65

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