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GLOBAL MARKET ROUND UP

*Bullion concluded the session on a weaker note, as an improving geopolitical landscape has created a headwind for precious metals. This has diminished demand for safe-haven metals, especially with the prospect of a peace deal between Ukraine and Russia appearing more attainable after US President Donald Trump stated he will meet with Russian President Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine.

*The clarification from the White House regarding the gold tariff exerted additional downward pressure on gold prices, as speculators—those who bought in anticipation of the tariff—now liquidated their long bets. At the same time, Trump extended a truce with China by another 90 days, just hours before new tariffs were set to kick in, easing tensions between the world’s two biggest economies.

*Crude oil futures have settled modestly higher during a range-bound session on Monday. The market is focused on the upcoming meeting between Presidents Trump and Putin scheduled for Friday, where they will discuss potential strategies to resolve the RussiaUkraine war. Additionally, traders are looking ahead to OPEC’s monthly report, along with forecasts from the U.S. EIA and IEA, for new insights regarding supply and demand.

*Natural gas prices continued to decline on Monday due to forecasts of cooler temperatures in the US, which are expected to lower natural gas demand for electricity.

*Copper and other base metals closed slightly lower due to a recovery in the US dollar, along with traders awaiting fresh cues. Meanwhile, President Trump's sudden changes regarding copper tariffs led to a nearly immediate 22% drop in the New York premium for copper compared to LME prices.

*On the macro front, investors have turned their attention to today's US consumer inflation report, which may offer new insights into the Federal Reserve's interest rate 

Gold

• Trading Range: 99300 to 100180

• Intraday Trading Strategy: Buy Gold Mini Sep Fut at 99575-99600 SL 99300 Target 99925/100180

Silver

• Trading Range: 111505 to 114080

• Intraday Trading Strategy: Buy Silver Mini Aug Fut at 112900-112925 SL 112080 Target 113750/114080

Crude Oil

• Trading Range: 5505 to 5850

• Intraday Trading Strategy: Buy Crude Oil Aug Fut at 5595-5600 SL 5505 Target 5725/5765

Natural Gas

• Trading Range: 245 to 280

• Intraday Trading Strategy: Sell Natural Gas Aug Fut at 263-264 SL 271.80 Target 255/252

Copper

• Trading Range: 875 to 897

• Intraday Trading Strategy: Buy Copper Aug Fut at 880 SL 875 Target 887/894

Zinc

• Trading Range: 265 to 274

• Intraday Trading Strategy: Buy Zinc Aug Fut at 268.50 SL 265.0 Target 272.0

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