Gold prices in India saw another decline on Saturday, 7 November 2026, offering a fresh update for buyers planning purchases during the festive season. Following Dhanteras, the country is celebrating Choti Diwali today, but the precious metal has continued to experience downward pressure amid subdued demand and changing market sentiment. On the Multi Commodity Exchange (MCX), December gold futures declined by 1.2 per cent, translating into a drop of Rs 1,731 per 10 grams. The contract was trading at Rs 1,42,364 per 10 grams, compared with its previous closing price of Rs 1,44,095.
According to Bullions, 24-carat gold was priced at Rs 1,42,860 per 10 grams. Meanwhile, international gold prices stood at $4,079.50 per ounce. In Delhi, the All India Sarafa Association reported that 24-carat gold had declined to Rs 1,46,300 per 10 grams, inclusive of taxes.
According to GoodReturns, the latest retail were Rs 1,43,610 for 24-carat gold, Rs 1,31,650 for 22-carat gold and Rs 1,07,640 for 18-carat gold per 10 grams.
| City | 24 Carat Gold | 22 Carat Gold | 18 Carat Gold |
| Delhi | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Mumbai | Rs 1,43,460 | Rs 1,31,500 | Rs 1,07,590 |
| Kolkata | Rs 1,43,460 | Rs 1,31,500 | Rs 1,07,590 |
| Chennai | Rs 1,43,350 | Rs 1,31,400 | Rs 1,07,600 |
| Patna | Rs 1,43,510 | Rs 1,31,550 | Rs 1,07,640 |
| Lucknow | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Meerut | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Ayodhya | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Kanpur | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Aligarh | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Moradabad | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Mirzapur | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Jhansi | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Mathura | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Gorakhpur | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Bareilly | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Prayagraj | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Varanasi | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Agra | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Ghaziabad | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Noida | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Gurugram | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Chandigarh | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Jaipur | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,640 |
| Ludhiana | Rs 1,43,610 | Rs 1,31,650 | Rs 1,07,740 |
| Guwahati | Rs 1,43,460 | Rs 1,31,500 | Rs 1,07,590 |
| Jalgaon | Rs 1,43,460 | Rs 1,31,500 | Rs 1,07,590 |
| Bhopal | Rs 1,43,510 | Rs 1,31,550 | Rs 1,07,640 |
| Indore | Rs 1,43,510 | Rs 1,31,550 | Rs 1,07,640 |
The national bullion market remains closed on Saturdays and Sundays. Therefore, buyers should also consider the timing and source of the quoted rates when comparing prices.
Gold Price Movement On Dhanteras: What Happened On Friday?
Gold prices had already experienced considerable weakness on Friday, which coincided with Dhanteras. Despite the festival traditionally encouraging jewellery purchases, demand remained relatively subdued as consumers weighed the impact of elevated gold prices.
In Delhi’s bullion market, 24-carat gold dropped by Rs 2,500 to Rs 1,46,300 per 10 grams, inclusive of all taxes, according to the All India Sarafa Association.
The previous day’s price was Rs 1,48,800 per 10 grams. The association also noted that gold was considerably more expensive than the Rs 1,32,400 per 10 grams recorded on October 18 last year.
Internationally, spot gold declined by $20.41, representing a 0.5 per cent decrease, to reach $4,068.71 per ounce.
MCX Gold Futures: Contract Prices Witness Another Decline
Gold futures also remained under pressure during Friday’s trading session. Weak physical-market demand prompted speculators to reduce their positions, contributing to the decline in futures prices.
On the Multi Commodity Exchange, the December delivery contract fell by Rs 2,178, or 1.51 per cent, to Rs 1,41,917 per 10 grams.
In the overseas market, gold futures in New York registered a decline of 0.94 per cent to $4,049.43 per ounce.
Market participants attributed the weakness largely to a lack of strong buying interest in the physical gold market.
What Are Market Experts Saying About Gold Demand?
Although Dhanteras is traditionally considered an auspicious occasion for purchasing gold, jewellery retailers did not report a substantial improvement in sales compared with the previous year.
Traders indicated that consumers were approaching purchases cautiously because of expensive precious metals and uncertainty surrounding future price movements. This change in buying behaviour has encouraged several customers to consider lighter jewellery rather than heavier ornaments.
According to the World Gold Council, India’s gold jewellery demand declined by 20 per cent in volume terms during the September quarter. However, demand increased by 16 per cent year-on-year in value terms, reflecting the impact of higher gold prices.
Shravan Goyal, executive vice president at UTI AMC, said gold offers value preservation and diversification in investment portfolios, while silver offers investment opportunities in industrial sectors such as solar energy and electric vehicles. However, it carries a higher risk of volatility.