MCX Gold trades lower around ₹1.56 lakh per 10 gram; check today’s trade setup

Market recap (as of 7:00 pm)

• Gold 5 Aug Futures: ₹1,57,070/ 10 gram (▼ 0.5%)
• Silver 3 July Futures: ₹2,55,200/ 1 kg (▼ 3.6%)
• Crude Oil 18 June Futures: ₹8,770/ 1 BBL (▼ 0.8%)

MCX Gold continues to trade with a weak bias. The price has slipped below the ₹1,58,189 support zone and is trading below both key short-term EMAs. This keeps the structure negative. The DMI also shows pressure from sellers, with ADX near 23.49, indicating that the trend is gradually gaining strength. For gold to recover, it needs to reclaim ₹1,59,000 first. Until then, the bias remains weak. On the upside, ₹1,61,123 remains the major resistance zone.

Silver saw a clear breakdown in today’s session as the price slipped below the important ₹2,61,000 support zone. This level had acted as a base earlier, but the breakdown shows that sellers are now gaining control. The price is trading below both the 20 and 50 EMAs, confirming a weak short-term structure. The DMI also supports the bearish view and ADX has moved up to 28.72, which shows that the downside trend has strength. As long as silver remains below ₹2,61,000, the bias stays negative. Any pullback towards ₹2,61,000–₹2,62,500 may face selling pressure.

MCX Crude oil failed to sustain the recent move above ₹9,200 and has slipped back towards the ₹8,800 zone. The price is now trading below the 20 and 50 EMAs, which shows that the short-term momentum has weakened. The DMI setup is also not very strong, while ADX is near 18. This suggests that the trend strength is low and crude may remain rangebound in the near term. For now, ₹9,211 remains the key resistance. Unless crude moves above this level, fresh bullish momentum may remain limited. On the downside, ₹8,205 remains the major support zone.

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