"The demand from stakeholders has been that quality of gold jewellery can be ensured only if the bullion is hallmarked. We have prepared the draft guidlines. So, we have started the consultation process," Tiwari said at a press conference here.

After gold jewellery, the government plans to make hallmarking of gold bullion mandatory and is ready with the draft guidelines, Bureau of Indian Standard (BIS) Director General Pramod Kumar Tiwari said on Monday. Hallmarking -- a quality certification -- has been made mandatory with effect from July 1, 2022 for gold jewellery (14, 18, and 22 carat) and artifacts in 288 districts of the country.

On May Silver futures, the Motilal Oswal analyst suggests buying at Rs 64,600. He sees support at Rs 64,300 and puts the target price at Rs 65,600. Gold and silver gained due to short coverings and profit-taking in the dollar index, Manoj Kumar Jain Prithvifinmart Commodity Research said, adding that the trend is volatile.

Sajeja is vice president - Research--Commodities & Currencies at Motilal Oswal Group. His recommendation on April Gold futures is one to buy at current levels. He sees support at Rs 55,700 with a price target of Rs 56,250. He said that the target is likely to be achieved intraday or over a very short-term period.

Anotherst, Amit Sajeja echoed similar sentiments. He said that the main trigger for bullion will be USl Chair Jerome Powell testimony on ths semiannual monetary policy report, submitted to the Senate Banking Committee. He said that owell s commentary on inflation and interest rate is expected to help the cause of gold.

Gold and silver gained after profit-taking in the dollar index and mixed global economic data. The Eurozone inflation is still at 8.5%, and US inflation was also higher than expected and supported precious metals at lower levels. Global equity markets also recovered last week.

Gold prices recovered from nine-week lows, and silver prices also recovered from four-month lows, Jain said. International gold prices crossed $1850 per troy ounce, and silver prices also crossed $21.20 per troy ounce levels, he added.

Gold and silver gained due to short coverings and profit-taking in the dollar index, Manoj Kumar Jain Prithvifinmart Commodity Research said, adding that the trend is volatile.

On May Silver futures, the Motilal Oswal analyst suggests buying at Rs 64,600. He sees support at Rs 64,300 and puts the target price at Rs 65,600. Gold and silver gained due to short coverings and profit-taking in the dollar index, Manoj Kumar Jain Prithvifinmart Commodity Research said, adding that the trend is volatile.

Sajeja is vice president - Research--Commodities & Currencies at Motilal Oswal Group. His recommendation on April Gold futures is one to buy at current levels. He sees support at Rs 55,700 with a price target of Rs 56,250. He said that the target is likely to be achieved intraday or over a very short-term period.