Gold prices moved lower on Wednesday, October 7, 2026, after opening the trading session on a weaker note. The decline comes during the festive season, when demand for gold jewellery generally remains in focus.
On the Multi Commodity Exchange (MCX), 24-carat gold futures for December 4, 2026 delivery were trading at ₹1,49,429 per 10 grams as of 10:16 AM, down 0.46% or ₹691 from the previous close of ₹1,50,120 per 10 grams.
Earlier, the MCX price had fallen by 0.28%, or ₹420, to ₹1,49,700 per 10 grams. The market has therefore remained under pressure since the beginning of Wednesday’s trading session.
Gold and Silver Prices Fall in International Market
Precious metals also declined in the international market on Wednesday.
According to Comex data, gold was down 0.41% at $4,169.90 per ounce by 9:30 AM. Silver also weakened, falling 0.78% to $61.110 per ounce.
The movement in international bullion prices can influence domestic gold rates, along with currency movements and local market conditions.
City-Wise Gold Rates Today
Gold prices vary slightly between cities. The following are the 24-carat, 22-carat and 18-carat rates for 10 grams as provided in the source material.
| City | 24K Gold (10g) | 22K Gold (10g) | 18K Gold (10g) |
|---|---|---|---|
| Delhi | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Mumbai | ₹1,49,020 | ₹1,36,600 | ₹1,11,770 |
| Kolkata | ₹1,49,020 | ₹1,36,600 | ₹1,11,770 |
| Chennai | ₹1,49,020 | ₹1,36,600 | ₹1,12,200 |
| Patna | ₹1,49,070 | ₹1,36,650 | ₹1,11,820 |
| Lucknow | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Meerut | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Ayodhya | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Kanpur | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Prayagraj | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Varanasi | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Ghaziabad | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Noida | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Gurugram | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Chandigarh | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
| Jaipur | ₹1,49,170 | ₹1,36,750 | ₹1,11,920 |
What Gold Buyers Should Keep in Mind
The latest fall in MCX gold prices may attract buyers who are planning festive-season jewellery purchases. However, the actual amount paid for jewellery can differ from the quoted bullion rate because of factors such as purity, making charges, taxes and jeweller-specific pricing.
The MCX rate also changes during market hours, meaning prices can move further before the trading session ends. Buyers should therefore check the latest rate with their jeweller before making a purchase.
Disclaimer: The gold prices mentioned in this article are based on the rates provided for October 7, 2026, and are intended for general informational purposes only. Actual retail jewellery prices may vary depending on purity, making charges, taxes, retailer pricing and market movements. Readers should verify the latest rates with an authorised jeweller or reliable market source before making a purchase or investment decision.