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GLOBAL MARKET ROUND UP

* Bullion dipped on Monday as the dollar held steady, with traders anticipating a flurry of central-bank events, including a Federal Reserve policy meeting.

* The Fed is expected to begin cutting rates within months, and comments from Chair Jerome Powell will be scrutinized after the bank’s gathering on Wednesday. Policymakers in Japan and the UK also meet, with traders watching the Bank of Japan for signs of a hike and the Bank of England for a cut.

* Crude oil tumbled near a seven-week low on a shaky demand outlook, especially in the biggest importer, China. Banks, including Citigroup Inc., have downgraded their growth forecasts for Asia’s biggest economy, while the physical export prices of US oil heading to Asia are weakening.

* Natural gas plummeted around 5% on Monday to a three-month low due to a huge volume of gas in storage and increasing output

* Industrial metals extended their decline due to a weak demand outlook. Traders awaited the outcome of a Politburo meeting in China for guidance on potential stimulus. So far, China’s measures to support growth have disappointed markets, despite the issuance of special debt that traders hope could signal more infrastructure spending.

* Asian equities slumped on speculation that investors are selling some of their holdings ahead of a rush of events in the coming days.

Gold

Trading Range: 68180-69080

Intraday Trading Strategy: Buy Gold mini Aug. at 68450-68475 SL 68280 Target 68750

Silver

Trading Range: 81075-82500

Intraday Trading Strategy: Buy Silver Mini Aug Fut at 81540 SL 81075 Target 82125

Crude Oil

Trading Range: 6225 to 6480

Intraday Trading Strategy: Sell Crude Oil Aug Fut at 6345 SL 6388 Target 6275

Natural Gas

Trading Range: 166 to 187

Intraday Trading Strategy: Sell Natural gas Aug Fut at 179 SL 184.80 Target 167

Copper

Trading Range: 772 to 797

Intraday Trading Strategy: Sell Copper Aug Fut at 788-789 SL 794 Target 780

Zinc

Trading Range: 244 to 252

Intraday Trading Strategy: Sell Zinc Aug Fut at 250 SL 253.80 Target 244

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