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GLOBAL MARKET ROUND UP

* Gold climbed above $2,620 per ounce during Asian trading hours on Thursday, although trading activity is anticipated to remain low due to the Christmas holiday. Investors were focused on the US Federal Reserve's monetary policy outlook and the anticipated tariff measures of the incoming Trump administration, which might influence the direction of gold in the next year.

* On the geopolitical front, Russia launched a large-scale missile attack on Ukraine’s energy infrastructure, raising fear of further escalation in the Russia-Ukraine war. On the other side, Hamas and Israel exchanged blame on Wednesday over their failure to reach a ceasefire agreement. The demand for safe haven, driven by geopolitical unrest, continues to provide support for gold.

* Crude oil rose on a choppy trading session, boosted by optimism for additional fiscal stimulus in China, the world's largest oil importer, as well as an expected reduction in US crude stocks. The Chinese government is giving local authorities more freedom to invest in government bonds in order to boost economic growth. Natural gas prices are likely to consolidate in the upper end range amid mixed cues.

* Positive macroeconomic news from China provided some support for base metals on Thursday, but a strong dollar index limited the rise. China will raise its budget deficit ratio, intensify fiscal spending, and accelerate expenditure in 2025, the finance ministry said on Tuesday.

* Asia’s benchmark stock index rose as equities gained in Japan and South Korea, while several other regional markets remain shut for holidays. Sentiment was boosted after US shares extended this year’s rally on Tuesday.

Gold

Trading Range: 76075 to 77320

Intraday Trading Strategy: Buy Gold Mini Feb Fut at 76350-76400 SL 76080 Target 76750/76900

Silver

Trading Range: 88650 to 90750

Intraday Trading Strategy: Buy Silver Mini Feb Fut at 89650-89675 SL 89200 Target 90150/90300

Crude Oil

Trading Range: 5920 to 6075

Intraday Trading Strategy: Buy Crude Oil Jan Fut at 5950 SL 5906 Target 6035/6050

Natural Gas

Trading Range: 282 to 305

Intraday Trading Strategy: Sell Natural Gas Jan Fut at 297 SL 301.0 Target 288

Copper

Trading Range: 792 to 809

Intraday Trading Strategy: Buy Copper Jan Fut at 797- SL 794.0 Target 803.80

Zinc

Trading Range: 280-287

Intraday Trading Strategy: Buy Zinc Jan Fut at 282.50 SL 280.10 Target 286

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