New Delhi, April 20 -- Precious metals remain at the centre of global macro shifts, with gold holding near $4,600 levels and silver moving past $83, as geopolitical tensions, currency movements and institutional demand shape the near-term outlook.

Bullion prices weakened at the start of the week after the U.S.-Iran ceasefire began to unravel, triggering fresh volatility across commodities and financial markets.

Escalating tensions in the Middle East disrupted energy supply, pushing inflation expectations higher and reinforcing the likelihood of elevated interest rates, both of which act as negative factors for precious metals.

"Gold and silver prices weakened at the start of the week as the U.S.-Iran ceasefire began to unravel, raising...