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GLOBAL MARKET ROUND UP

* Gold tumbled more than 2% in the previous session, as the Federal Reserve adopted a more cautious tone on the pace of rate cuts next year. The Fed reduced borrowing costs on Wednesday, but Chair Jerome Powell said that while the bank was “on track to continue to cut,” officials would first have to see more progress on inflation. Fresh quarterly forecasts showed several officials penciling in fewer rate cuts for next year, causing swap traders to significantly scale back bets on easing in 2025.

* Crude oil closed with modest gains on Wednesday as Kazakhstan pledged to comply with OPEC+ production quotas and rising US crude exports signaled firm global demand. Energy Information Administration data showed US crude exports rose 1.8 million barrels last week, reaching the highest since July. The report also showed a fourth straight weekly decline in US oil inventories and a 3.18-million-barrel drawdown in distillate stockpiles.

* Rising flows to the nation's liquefied natural gas export plants and expectations that utilities pulled more gas out of storage than usual for a second consecutive week led to a 2% increase in natural gas prices on Wednesday.

* Copper registered for the lowest close in more than four months, and other industrial metals also fell after the Federal Reserve dialed back expectations for rate cuts next year and strength in the US dollar. The U.S. dollar advanced against its peers on Wednesday, hitting its highest level in two years.

* Asia stocks slid after the S&P 500 had its worst day since August. US futures were mixed. The yen fell to its weakest since November after the BOJ keep rates unchanged.

Gold

Trading Range: 74900 to 76450

Intraday Trading Strategy: Sell Gold Mini Jan Fut at 75650 SL 75980 Target 75080

Silver

Trading Range: 86000 to 90380

Intraday Trading Strategy: Sell Silver Mini Feb Fut at 88900-88950 SL 89600 Target 87500/87200

Crude Oil

Trading Range: 5780 to 6000

Intraday Trading Strategy: Sell Crude Oil Jan Fut at 5975-5980 SL 6050 Target 5875

Natural Gas

Trading Range: 284 to 305

Intraday Trading Strategy: Buy Natural Gas Dec Fut at 288 SL 284.0 Target 297/304

Copper

Trading Range: 788 to 812

Intraday Trading Strategy: Sell Copper Dec Fut at 804-805 SL 809.0 Target 794/792

Zinc

Trading Range: 274-284

Intraday Trading Strategy: Sell Zinc Dec Fut at 282 SL 284.50 Target 277/275

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