New Delhi, April 6 -- Gold is expected to remain volatile but largely rangebound over the next one month as easing geopolitical tensions, elevated oil prices and uncertainty over interest rates continue to weigh on sentiment, analysts said.

"Gold remained below USD 4,700 per ounce on Monday as markets reacted to reports of a possible 45-day ceasefire between the U.S., Iran and regional mediators," said Amit Gupta, Senior Research Analyst - Commodities at Kedia Advisory. "While easing tensions reduced immediate safe-haven demand, risks remain elevated due to ongoing threats and continued attacks on energy infrastructure."

Gupta added that gold has declined around 12 per cent since the conflict began, as rising energy prices have fueled i...