Gold, Silver Stay Range-Bound As Oil Prices Rise And Middle East Developments Remain In Focus

Precious metals showed limited movement on Monday, with gold and silver prices trading in a narrow range as investors tracked rising crude oil prices and reports of a possible easing of tensions in the Middle East.

On the Multi Commodity Exchange, gold futures for June delivery were slightly lower, hovering around Rs 1.52 lakh per 10 grams. During the session, prices briefly moved higher before easing again, reflecting cautious market sentiment.

Silver futures also remained under pressure, trading below recent levels while witnessing fluctuations through the day. The metal touched both higher and lower intraday levels, indicating continued volatility.

Analysts noted that both metals are currently moving within defined technical ranges, with traders closely watching key support and resistance levels.

Global uncertainty, particularly geopolitical developments, continues to influence price trends.

In international markets, gold and silver prices were largely steady on COMEX, showing only marginal changes. Experts said that any decisive movement would depend on how global events unfold in the coming days.

Investor sentiment remains sensitive to developments in the Middle East, including reports that Iran has suggested steps to reduce tensions with the United States.

At the same time, higher crude oil prices have added another layer of complexity to the outlook.

Despite the current consolidation, both metals have delivered strong returns over the past year, supported by global uncertainties and demand for safe-haven assets. Silver, in particular, has seen sharp gains, outperforming many other asset classes.

Oil prices continued to climb, with benchmark crude contracts rising more than 2 per cent, adding to inflation concerns and influencing broader commodity markets.

Market participants expect gold and silver to remain volatile in the near term. Price direction will likely depend on geopolitical signals and global economic cues.

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