New Delhi, April 5 Gold and silver are expected to remain within a range with a positive bias next week as investors monitor geopolitical developments in West Asia and key global macroeconomic data, analysts said.
On the domestic front, investors will also be looking for the Reserve Bank of India's monetary policy mid-week, they added.
"Looking ahead to the week, the focus remains on developments in the Gulf region – any signs of further escalation or de-escalation could influence prices," said Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd.
Investors will also monitor a series of global economic indicators for further direction.
"In terms of data, investors will be looking at PMI numbers from major economies, as well as US data on durable goods, GDP, the Personal Consumption Expenditures (PCE) index, and CPI inflation," he added.
In the past week, gold futures for the June contract increased by Rs 2,425, or 1.65 percent, while silver for the May delivery appreciated by Rs 4,541, or 2 percent, on the Multi Commodity Exchange.
Brokerage firm Choice Broking said that gold and silver prices staged a recovery after three consecutive weeks of decline, supported by a combination of macroeconomic and geopolitical factors, including a weakening Indian rupee at record lows, and a decline in Bitcoin as investors shifted funds toward bullion.
In the international market, gold futures for the June contract gained USD 155.4, or 3.43 percent, to close at USD 4,679.7 per ounce on the Comex.
Silver for May delivery increased by USD 3.13, or 4.5 percent, to close at USD 72.92 per ounce on Thursday.
"Gold prices closed positively for the second consecutive week, ending with a weekly gain of nearly 4 percent, while silver also rose for the week, tracking higher gold and industrial metals," Mer said.
He noted that prices held gains despite better-than-expected US macroeconomic data releases, which reinforced expectations and the view of Federal Reserve officials that the economy remains strong and that the current monetary policy remains accommodative.
Some selling of gold by investors and reduced central bank buying, followed by a sharp correction after US President Donald Trump's remarks on Iran heightened geopolitical tensions, Mer added.
Choice Broking said that uncertainties persist as Iran rejected a US peace proposal and asserted control over the Strait of Hormuz, while strong physical demand supported sentiment. Silver imports into China during the first two months of 2026 hit an eight-year high at 206.76 metric tonnes, tightening global supply.
Analysts said that the overall trend in precious metals is expected to remain sideways-to-bullish next week, with investors also monitoring the US unemployment rate and jobless claims for further cues on policy easing and bullion prices.