Gold prices witnessed a significant decline on Friday, November 6, 2026, bringing relief to buyers celebrating Dhanteras. The yellow metal fell after a strong rally in recent trading sessions. Investors booked profits following the recent price surge. A slight increase in crude oil prices also influenced market movements. The decline created a buying opportunity for customers planning to purchase gold during the festive season.
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24K and 22K Gold Rates in India Today
Gold futures on the Multi Commodity Exchange (MCX), with a December 4 expiry, dropped by Rs 2,439 per 10 grams. Prices touched a low of Rs 1,41,656 against the previous close of Rs 1,44,095. Silver futures also recorded a sharp fall during early trading. MCX silver contracts for December delivery declined by Rs 3,440 per kilogram. Silver prices reached Rs 1,83,700 compared with the previous closing price of Rs 1,87,140.
Gold prices also declined in the domestic retail market on Dhanteras. According to the latest rates on Bullion.co.in, 24-karat gold traded at Rs 1,42,390 per 10 grams on November 6. Meanwhile, 22-karat gold stood at Rs 1,30,524 per 10 grams. Buyers looking for lower-purity options also saw reduced prices. The 20-karat rate reached Rs 1,18,658, while 18-karat gold traded at Rs 1,06,793 per 10 grams.
Gold prices varied across major Indian cities on Friday. In Delhi, 24-karat gold traded at Rs 1,41,630 per 10 grams, while 22-karat gold stood at Rs 1,29,828. Mumbai recorded rates of Rs 1,41,880 for 24-karat and Rs 1,30,057 for 22-karat gold. Chennai reported comparatively higher prices, with 24-karat gold at Rs 1,42,290 and 22-karat gold at Rs 1,30,433. Kolkata, Bengaluru and Hyderabad also recorded different rates across both purity categories.
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Why Did Gold and Silver Prices Decline?
Kaveri More, Commodity Technical Analyst at Choice Broking, said investors remained cautious ahead of the US October jobs report. The US Dollar Index strengthened to around 101.7, supported by strong private payroll data and lower jobless claims. However, expectations of a possible Federal Reserve rate cut in December also influenced market sentiment. COMEX gold traded near $4,044 per ounce, while MCX gold hovered around Rs 1,42,200.
Rising crude oil prices also contributed to the mixed movement in precious metals. Continued geopolitical uncertainty supported crude oil prices during the trading session. WTI crude traded around $91.70 per barrel, while Brent crude reached nearly $102.50 per barrel. These global developments influenced investor sentiment in gold and silver markets. Buyers should check the latest local jewellery rates before making purchases, as prices may vary across cities and jewellers.
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