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Natural gas prices fell by roughly 8.60% last week, due to milder weather forecasts and lower feed gas to LNG export plants - HDFC Securities
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* Gold fell nearly 1.80% on Friday and registered its first weekly loss in four amid speculation that its rally to an all-time high earlier this week may have gone too far. Another reason for the steep drop in yellow metal is possibly a slowdown in seasonal demand for physical gold, signaling "anxiety over the worsening recession in Jewellery and retail investment demand, especially in China.“
* Crude oil declined more than 2.50% last week, influenced by renewed hopes of a ceasefire in Gaza and concern about the demand outlook. Recent data showed China's economy grew by a slower-than-expected 4.7% in Q2, heightening concerns about oil demand from the world's top importer.
* Natural gas prices fell by roughly 8.60% last week, due to milder weather forecasts and lower feed gas to LNG export plants.
* Last week, base metals extended losses, with copper being the top loser, declining 5.74% due to growing supply and sluggish demand from top metals consumers in China. A lack of economic policy direction from the Chinese government harmed investor sentiment, causing a significant drop in all industrial metals.
* World stock indexes dipped on Friday as investors felt anxious about a global cyber disruption.
* What to Watch: Next week, investors will closely monitor US macro data, which includes the Fed's preferred price gauge, the core PCE deflator, and second quarter GDP data. Apart from this, India's budget is an important macro event for the domestic market.
Gold
Trading Range and Strategy: Expected range for Gold Aug Fut is 71480–73860.
Intraday Trading Strategy: Sell Gold Aug Fut below 72800 TGT 72350/71700 Keep Stop Loss 73380.
Silver
Trading Range and Strategy: Expected range for Silver Sep Fut is 86450–91450.
Intraday Trading Strategy: Sell Silver Sep Fut at 90450-90500 TGT 88350/87500 SL 91500.
Crude Oil
Trading Range and Strategy: Expected range for Crude Aug Fut is 6480–6810.
Intraday Trading Strategy: Sell crude oil Aug Fut at 6710-6720 TGT, 6480-6365 SL 6820
Natural gas
Trading Range and Strategy: Expected range for natural gas Jul Fut is 159–204.
Intraday Trading Strategy: Buy natural gas Jul Fut at 175 TGT 188/195 SL 166.80.
Copper
Trading Range and Strategy: Expected range for Copper Jul Fut is 812-850.
Intraday Trading Strategy: Buy Copper Jul Fut at 817- 819 TGT 834/845 SL 812.
Zinc
Trading Range and Strategy: Expected range for Zinc Jul Fut is 255.50–266.
Intraday Trading Strategy: Sell Zinc jul Fut at 264 -265 TGT, 255.50 SL 269.8.
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