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GLOBAL MARKET ROUND UP

* Gold prices fell slightly in Asian trade on Friday, but were sitting on strong gains from the prior session as softer-than-expected U.S. inflation data ramped up bets on a September interest rate cut.

* The yellow metal blew past the closely-watched $2,400 an ounce level on Thursday and was less than $50 away from a record high, as it benefited from a sharp drop in the dollar. Gold was also set for a strong weekly performance.

* Consumer price index data released on Thursday read a touch lower than expected, driving up hopes that cooling inflation will give the Fed more confidence to begin cutting rates.

* Oil prices inched up on Friday amid signs of easing inflationary pressures in the world's biggest oil consumer, the United States, though the contracts were headed for a weekly decline.

* Brent crude futures rose 33 cents, or 0.4%, to $85.73 a barrel by 0300 GMT. U.S. West Texas Intermediate crude futures climbed 46 cents, or 0.6%, to $83.08 a barrel. Both contracts gained in the prior two sessions but were still poised for weekly declines.

Gold

Trading Range: Aug Fut 73150-73750

Intraday Trading Strategy: Buy Gold Aug Fut above 73335 and Avg at 73200, TGT 73590/73750 SL 73150

Silver

Trading Range: Sep Fut 94100-95400

Intraday Trading Strategy: Buy Silver Sep Fut Above 94590 and Avg at 94300, TGT 95150/95400, SL 94100

Crude Oil

Trading Range: Jul Fut 6900-6960

Intraday Trading Strategy: NA

Natural Gas

Trading Range: Jul Fut 185-193

Intraday Trading Strategy: Sell Natural Gas Jul Fut 190-192, TGT 187/185 SL 193

Copper

Trading Range: July Fut 864-832

Intraday Trading Strategy: Sell Copper July Fut at 854-860, TGT 840/832 SL 864

Zinc

Trading Range: July Fut 270-276

Intraday Trading Strategy: NA

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