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* On Monday, Easing supply side issues saw energy and metals markets ease lower. A slowdown in haven buying weighed on the precious metal market.

* Gold steadied after dropping by the most in two weeks on Monday, ahead of the Federal Reserve chief’s address to Congress and US inflation data later this week, with both events likely to offer clues on the interest-rate path. Bullion traded at around $2,362 an ounce following a 1.4% decline in the previous session before Fed Chair Jerome Powell’s semiannual testimony at Capitol Hill on Tuesday and Wednesday.

* Oil fell as Hurricane Beryl looked less likely to pose major disruptions to crude infrastructure in Texas. West Texas Intermediate slid 1% to settle near $82 a barrel after four straight weekly gains.

* Traders are in line for multiple reports this week that will shed light on global crude balances. The Organization of Petroleum Exporting Countries, which has been choking off output to bolster prices, delivers its monthly outlook on Wednesday, and the International Energy Agency releases forecasts on Thursday. There will be a snapshot from the US Energy Information Administration as well.

* Base metals were broadly lower as supply risks eased. Codelco said that output withstood the wettest June in more than two decades in Chile. Nickel extended recent gains after the suspension of deliveries from Norilsk Nickel’s Harjavalta plant in Finland.

* Swaps data show traders are now pricing in two reductions this year, with a roughly 70% chance of the first one in September, after a mixed jobs report sent Treasury yields tumbling last week.

Gold

Trading Range: Aug 71800 to 72580

Intraday Trading Strategy: Sell Gold Aug. below 72130 SL 72300 Target 71830

Silver

Trading Range: 91600 to 93400

Intraday Trading Strategy: Sell Silver Sept Fut below 92100 SL 92500 Target 91600

Crude Oil

Trading Range: 6750 to 6930

Intraday Trading Strategy: Sell Crude Oil July Fut below 6860 SL 6930 Target 6770

Natural Gas

Trading Range: 190 to 208

Intraday Trading Strategy: Buy Natural gas above 200 SL 195 Target 207

Copper

Trading Range: 860 to 883

Intraday Trading Strategy: Sell Copper July Fut below 867 SL 873 Target 860

Zinc

Trading Range: 275 to 267

Intraday Trading Strategy: Sell Zinc July Fut at 273 SL 276.50 Target 269

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