Gold prices remained flat in the domestic market on Monday, holding steady at Rs 1.62 lakh per 10 grams, while silver edged higher as import restrictions tightened supply. Traders noted that the yellow metal traded in a narrow range amid mixed global cues.
Silver Gains on Supply Concerns
Silver prices inched up by Rs 200 to Rs 72,500 per kilogram, driven by fears of reduced imports. The government's recent curbs on precious metal imports have created a supply squeeze, pushing silver higher. Market participants expect volatility in the near term.
Factors Influencing Gold Prices
Gold showed little movement as investors weighed the impact of a stronger dollar against safe-haven demand. The US dollar index edged up, capping gains for gold. However, geopolitical tensions and economic uncertainties provided some support at lower levels.
Outlook for Precious Metals
Analysts predict that gold may trade within a range of Rs 1.60-1.65 lakh per 10 grams in the coming sessions, while silver could test Rs 73,000 levels if import curbs persist. The market will closely monitor the government's next steps on trade policy.
