320-x-100_uti_gold.jpg" alt="Advertisement">
Natural gas prices recovered on Wednesday, as forecasts shifted slightly warmer, and traders anticipated higher demand for air conditioning - HDFC Securities
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
GLOBAL MARKET ROUND UP
* A pullback in the Treasury yield and mixed US macro data led to an uptick in gold. Traders weighed the latest economic data, which increased the possibility of a Fed pivot this year, while waiting for key US job readings that may firm up expectations for interest-rate cuts later this year.
* A Wednesday report showed the US services sector expanded by the most in nine months, powered by the largest monthly gain in a measure of business activity since 2021. Earlier in the day, a private payrolls reading highlighted that hiring at US companies grew at the slowest pace since the start of the year
* Crude oil rebounded from a four-month low. Short coverage at the support level primarily drives a two-day recovery. The price decline had pushed both benchmarks into oversold territory on the 14-day relative strength index.
* Natural gas prices recovered on Wednesday, as forecasts shifted slightly warmer, and traders anticipated higher demand for air conditioning.
* Copper and other base metals traded in the lower-end range amid mixed global signals. Demand concerns and increased inventories in China weighed down on industrial metals, while hopes of more monetary policy easing from western countries in the pipeline supported prices at a lower level.
Gold
Trading Range: 72080-73550
Intraday Trading Strategy : Buy Gold Mini Jul Fut at 72500-72550 TGT 72880/73050 SL 72380
Silver
Trading Range: 90580-92750
Intraday Trading Strategy : Buy Silver Jul Fut at 91350-91375 TGT 92500 SL 90800
CrudeOil
Trading Range: 6080-6280
Intraday Trading Strategy : Buy Crude Oil Jun Fut at 6165-6175 TGT 6280 SL 6105
NaturalGas
Trading Range: 219-237
Intraday Trading Strategy : Buy Natural Gas Jun Fut at 226 TGT 234.80/237 SL 222.80
Copper
Trading Range: 859-887
Intraday Trading Strategy : Buy Copper Jun Fut at 873-874 TGT 887 SL 866
Zinc
Trading Range: 256-266
Intraday Trading Strategy : Buy Zinc Jun Fut at 259.0 TGT 263.80 SL 256.0
Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795
SEBI Registration number is INZ000171337
