MCX Gold trades above ₹1.53 lakh per 10 gram; Crude oil break key support zone; check today’s trade setup

Market recap (as of 3:30 pm)

• Gold 5 Aug Futures: ₹1,53,360/ 10 gram (▲ 1.9%)
• Silver 3 July Futures: ₹2,52,710/ 1 kg (▲ 2.9%)
• Crude Oil 18 June Futures: ₹7,596/ 1 BBL (▼ 5.9%)

MCX Gold also staged a strong recovery from the ₹1,46,444 support zone. The price has moved above ₹1,51,960 and is now trading around ₹1,53,162. Gold has reclaimed both short-term EMAs, which indicates improving momentum after the recent fall. The DMI setup has turned strongly positive, while ADX near 39 shows that the recovery has strength.

Silver saw a strong recovery after taking support near ₹2,32,111 and is now trading above the ₹2,48,113 resistance zone. The price has also moved above both the 20-period and 50-period EMAs, which shows that short-term momentum has turned positive. The DMI confirms the recovery with ADX near 39 indicating strong trend momentum.

MCX Crude oil remained weak and slipped sharply below the important ₹8,205 support zone. The price is now trading near ₹7,644 and remains below both the 20-period and 50-period EMAs, confirming a bearish short-term structure. The DMI setup also supports the weakness, while ADX has risen above 32. This shows that sellers are in control and the downside trend has strength.

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