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GLOBAL MARKET ROUND UP

Gold began the week slightly lower as demand for safe havens diminished after President Donald Trump agreed to delay the planned 50% tariff on European goods. On Sunday, Trump announced a delay in new EU tariffs after speaking with European Commission President Ursula von der Leyen.

Additionally, gold prices were pressured by traders liquidating long positions from those who had purchased on Friday after Trump threatened to impose sweeping tariffs on the European Union. In the short term, gold prices will be significantly influenced by comments from President Trump and news related to tariffs.

However, the long-term outlook for precious metals remains positive. Crude oil prices were steady on Monday due to light holiday trading volume. The summer driving season is beginning, and the U.S. has delayed 50% tariffs on imports from the European Union, which supports oil prices. However, concerns over OPEC+'s higher supply have increased, capping the upside for oil.

The group is set to meet later this week and is expected to finalize production targets for July, with reports indicating a potential output increase of 411,000 bpd. Natural gas prices fell after a gap-up opening on Monday, remaining under pressure due to a weak demand outlook. Forecasts predict cool temperatures in major eastern markets, which could reduce air-conditioning demand. Copper and other base metals are consolidating within a range, showing a moderate positive bias.

The weakening US dollar is supporting base metals, which have continued to decline due to investor concerns over President Donald Trump’s unpredictable trade policies that have undermined confidence in US assets.

Gold

• Trading Range: 95400 to 96550

• Intraday Trading Strategy: Sell Gold Mini Jul Fut at 96500-96525 SL 97050 Target 95900/95780

Silver

• Trading Range: 96900 to 99380

• Intraday Trading Strategy: Sell Silver Mini Jun Fut at 98300-98325 SL 99200 Target 97300/96925

Crude Oil

• Trading Range: 5125 to 5320

• Intraday Trading Strategy: Sell Crude Oil Jun Fut at 5275-5280 SL 5335 Target 5150

Natural Gas

• Trading Range: 305 to 332

• Intraday Trading Strategy: Buy Natural Gas Jun Fut at 310-312 SL 304 Target 322/326

Copper

• Trading Range: 854 to 870

• Intraday Trading Strategy: Sell Copper Jun Fut at 865-866 SL 870 Target 857

Zinc

• Trading Range: 252 to 260

• Intraday Trading Strategy: Sell Zinc Jun Fut at 258.50 SL 262.5 Target 254.0

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