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GLOBAL MARKET ROUND UP

* Gold reached a fresh record in early Asian trading hours on Wednesday as traders digested the latest US economic data and weighed potential market disruption ahead of the looming presidential election. Spot gold surged to another record high of $2,782.14 an ounce, topping the previous all-time high posted yesterday.

* Gold rallied despite rising bond yields and a strong US dollar, which would have a negative impact on the precious metal. The tight US presidential election is creating uncertainty that’s underscoring bullion’s role as a place of safety for investors.

* Crude oil steadied after a two-day decline in the prospect of further easing hostilities in the Middle East, with the market shifting its attention to global supply balances and OPEC+’s production outlook. Oil traders are divided over whether OPEC+ will proceed with plans to restore production in December, as crude prices falter amid a fragile economic outlook.

* Natura gas rose after falling earlier Tuesday as traders assessed a mixed national weather forecast could impact demand for the heating and power plant fuel.

* Copper rose with other industrial metals following a report of a possible fresh announcement of Chinese stimulus totaling 10 trillion yuan.

* Most equity markets in Asia fell amid caution ahead of next week’s US election and the Federal Reserve’s rate decision.

Gold

Trading Range: 78980 to 79715

Intraday Trading Strategy: Buy Gold Mini Dec Fut at 79150-79175 SL 78905 Target 79525

Silver

Trading Range: 97105 to 100080

Intraday Trading Strategy: Buy Silver Mini Nov Fut above 99025 SL 98480 Target 99880/10050

Crude Oil

Trading Range: 5580 to 5825

Intraday Trading Strategy: Buy Crude Oil Nov Fut at 5650 SL 5597 Target 5780

Natural Gas

Trading Range: 232 to 250

Intraday Trading Strategy: Sell Natural Gas Nov Fut at 245 SL 250.8 Target 238

Copper

Trading Range: 832 to 856

Intraday Trading Strategy: Buy Copper Nov Fut at 839 SL 835.80 Target 850

Zinc

Trading Range: 284-297

Intraday Trading Strategy: Buy Zinc Nov Fut at 284- 285 SL 280 Target 292

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