Copper, metals consolidate at lower range on Monday amid LME holiday - HDFC Securities Ltd

GLOBAL MARKET ROUND UP
* Bullion declined on Monday as the rising US dollar and recovery of treasury yields put downward pressure on gold. Furthermore, profit-taking by speculators also played a role in the decrease in gold prices, which had experienced a nearly 1.0% rally on Friday.
* During the Asian trading hours on Tuesday, bullion recovered from the losses experienced the previous day and traded higher as investors turned to traditional safehaven assets. This shift followed President Donald Trump's decision to remove Federal Reserve Governor Lisa Cook, raising concerns about the independence of the central bank.
* Crude oil prices rose on Monday, continuing the gains from the previous week, as a movement above key technical levels further fueled a rally initiated by indications that the Federal Reserve may resume cutting interest rates.
* Additionally, the ongoing lack of progress in the prolonged conflict between Russia and Ukraine added a risk premium, especially after Trump’s statement that he spoke to Vladimir Putin in recent days and believes the Russian president’s dislike of Volodymyr Zelenskiy is holding up a bilateral meeting
* Natural gas rebounded from the day's low and ended on a flat note, supported by steady LNG feed gas flows and slightly higher midday temperature forecasts that mitigated some of the early selling pressure.
* Copper and other industrial metals are consolidating at the lower end of their range on Monday due to a holiday in the LME market. Traders seem to be waiting for additional cues before making directional bets.
Gold
* Trading Range: 100480 to 102050
* Intraday Trading Strategy: Buy Gold Mini Sep Fut at 100175-100180 SL 99900 Target 100650/100780
Silver
* Trading Range: 115650 to 117900
* Intraday Trading Strategy: Buy Silver Sep Fut at 116100-116125 SL 115400 Target 117050/117850
Crude Oil
* Trading Range: 5595 to 5780
* Intraday Trading Strategy: Buy Crude Oil Sep Fut at 5620-5625 SL 5545 Target 5725/5765
Natural Gas
* Trading Range: 236 to 262
* Intraday Trading Strategy: Sell Natural Gas Sep Fut at 250-251 SL 256.80 Target 242/236
Copper
* Trading Range: 884 to 905
* Intraday Trading Strategy: Buy Copper Sep Fut at 887 SL 882 Target 894/897
Zinc
* Trading Range: 266 to 274
* Intraday Trading Strategy: Buy Zinc Sep Fut at 269.0 SL 267.0 Target 272.80/274
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