Bullion market on Wednesday remained closed in the national capital because of the traders' protest against government's decision to make PAN card mandatory for transactions of Rs 2 lakh and above.

The government has made Permanent Account Number (PAN) card mandatory from January 1, for all transactions of Rs 2 lakh and above.

"We have shut our shops to protest against the mandatory PAN card requirement," All India Sarafa Bazar Association Vice President S K Jain told PTI.

Yesterday, gold closed at over one-year high at Rs 28,585 per 10 grams, while silver regained Rs 37,000 per kg level.

PTI