MCX Gold trades near ₹1.49 lakh, Silver moves above hourly 20 EMA; check trade setup for Oct 5

Market recap (as of 4:00 pm)

• Gold 4 Dec Futures: ₹1,49,849/ 10 gram (▼ 0.3%)
• Silver 4 Dec Futures: ₹2,28,055/ 1 kg (▲ 0.9%)
• Crude Oil 19 Oct Futures: ₹8,725/ 1 BBL (▼ 2.1%)

Technical outlook

MCX Gold December 4 futures traded near ₹1,49,277, below the 20 EMA and the 50 EMA. With the shorter moving average below the longer one, the 1-hour chart retains a bearish alignment.

Meanwhile, the ADX at 12.83 suggests the downward bias lacks strong trend confirmation. A move above the 20 EMA would be an initial sign of recovery, while sustained hourly closes above both averages would improve the outlook. Continued trading below them would keep the bearish bias in place.

MCX Silver December 4 futures traded near ₹2,25,991, above the 20 EMA , but below the 50 EMA. Price has recovered above its shorter moving average, although the 20 EMA remains below the 50 EMA.

The ADX at 11.43 indicates limited trend strength. This makes the current move a recovery attempt rather than a confirmed uptrend. Sustained hourly closes above the 50 EMA would improve the price structure. A return below the 20 EMA would weaken the recovery.

MCX Crude oil October 19 futures traded near ₹8,703, below the 20 EMA and the 50 EMA. The 20 EMA also remains below the 50 EMA, supporting a bearish short-term assessment. The ADX at 13.81 shows weak trend strength, while the directional indicators are closely matched. A recovery above both moving averages would weaken the bearish view. Further downside accompanied by rising ADX and a stronger negative directional indicator would provide clearer confirmation.