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GLOBAL MARKET ROUND UP

Gold retreated after hitting a fresh record as investors weighed remarks from policymakers ahead of a key jobs report due later today.

Neel Kashkari, the chief of the Minneapolis Fed, stated on Thursday that if progress on inflation stalls, especially if the economy remains robust, interestrate cuts may not be necessary this year. Meanwhile, Cleveland Fed President Loretta Mester separately suggested the central bank could be getting close to the level of confidence it needs to begin lowering rates within months.

WTI crude climbed above $86 a barrel for the first time since October as the conflict in the Middle East showed signs of escalating. Israel increased preparations for potential retaliation after an April 1 strike on an Iranian diplomatic compound in Syria, while US President Joe Biden toughened his stance on Tel Aviv in its war against Hamas.

Copper traded near its highest level since January last year, as investors weighed mounting concerns over global ore supply and potential production cuts from Chinese smelters.

Asia stocks slid, tracking Wall Street, after Neel Kashkari warned it’s possible the Fed won’t cut rates this year.

Trading Range: 69020-69900

Intraday Trading Strategy : Buy Gold Jun Fut at 69020 TGT 69350/69480 SL 68900

Silver 

Trading Range: 78200-80020

Intraday Trading Strategy : Sell Silver Mini 30 Apr Fut at 78950-79000 TGT 78550/78300 SL 79370

 Crude Oil

Trading Range: 7080-7270

Intraday Trading Strategy : Buy Crude oil Apr Fut at 7180-7200 TGT 7280/7325 SL 7105

 Natural Gas 

Trading Range: 136-156

Intraday Trading Strategy : Sell Natural Gas Apr Fut at 150 TGT 142/136 SL 156.80

Copper 

Trading Range: 780-805

Intraday Trading Strategy : Sell Copper Apr Fut at 799 TGT 792/788 SL 804

Zinc 

Trading Range: 224-236

Intraday Trading Strategy : Buy Zinc Apr Fut at 229 TGT 234.0SL 226.80

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