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GLOBAL MARKET ROUND UP

* Gold maintained its loss as traders reassessed the future path of interest rates after Federal Reserve policymakers emphasized the need for US inflation to decrease further to justify lower borrowing costs.

* Yields on US Treasury bonds climbed as Richmond Fed President Thomas Barkin and New York Fed’s John Williams signalled that borrowing costs needed to stay higher for longer.

* MCX Silver prices rose Thursday to an all-time high of Rs 87494 per kilogram, accompanied by a growth in industrial applications for the precious metal.

* Crude oil registered a modest gain on Thursday amidst a mixed macro environment. The competing drivers have largely offset each other, muting price action throughout this week.

* Natural gas futures rose after a weekly storage report revealed a stockpile increase that was less than the average analyst estimate.

* Following a recent rally, base metals traded in the upper range. On the macro front, China’s consumer spending surprisingly slowed in April, rising 2.3%, while industrial production accelerated, highlighting the lopsided recovery.

Gold

Trading Range: 72350-73400

Intraday Trading Strategy : Buy Gold Mini Jun Fut at 72580-72600 TGT 72980 SL 72450

Silver

Trading Range: 86300-88000

Intraday Trading Strategy : Buy Silver Mini Jun Fut at 86380-86400 TGT 86950 SL 86180

Crude Oil

Trading Range: 6520-6700

Intraday Trading Strategy : Buy Crude Oil May Fut at 6560-6565 TGT 6650 SL 6510

Natural Gas

Trading Range: 202-214

Intraday Trading Strategy : Buy Natural Gas Apr Fut at 202-203 TGT 212/214 SL 199.80

Copper

Trading Range: 880-905

Intraday Trading Strategy : Sell Copper May Fut at 901 TGT 892/888 SL 905.80

Zinc

Trading Range: 257-266

Intraday Trading Strategy : Sell Zinc May Fut at 263.50 TGT 259 SL 266.0

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