Gold Price Today, November 7, 2026: Gold buyers have received some relief during the Diwali festive season as the precious metal has reportedly witnessed a decline in prices across domestic bullion and futures markets. On the occasion of Chhoti Diwali, gold prices remain in focus as customers prepare to purchase jewellery, coins and other gold products.

According to market figures cited in a November 7 report, gold futures on the Multi Commodity Exchange (MCX) declined by approximately 1.2%, while physical gold prices also experienced downward pressure.

The reported MCX gold futures price slipped by ₹1,731 to ₹1,42,364 per 10 grams, compared with the previous closing level of ₹1,44,095.

Despite the recent correction, gold continues to trade at elevated levels compared with the prices cited for the previous festive season.

Here is a detailed look at the reported gold prices for November 7, 2026, including 24-carat, 22-carat and 18-carat rates across major Indian cities.

Gold Prices Decline on MCX Ahead of Diwali

Gold futures reportedly witnessed selling pressure in the domestic commodity market.

According to the source report, the quoted MCX gold futures price fell by ₹1,731, representing a decline of approximately 1.2%.

The price was reported at ₹1,42,364 per 10 grams, compared with ₹1,44,095 in the previous trading session.

The decline reflects the pressure on gold prices amid changes in investor positioning and international market conditions.

However, MCX futures prices and physical jewellery prices are not directly interchangeable.

Futures contracts represent exchange-traded instruments, while the amount consumers pay for physical gold can include taxes, making charges and other applicable costs.

Gold Rate Today: 24K, 22K and 18K Prices

According to the reported retail price information, the indicative gold rates for November 7, 2026, are as follows:

These figures are based on the supplied report and should be treated as indicative rather than independently verified live market quotations.

Actual jewellery prices may differ depending on the seller, city, purity, taxes and making charges.

City-Wise Gold Prices on November 7, 2026

Gold prices vary across Indian cities because of differences in local market conditions, dealer quotations and other pricing factors.

The following table presents the reported prices for 10 grams of gold in selected cities.

All prices are in Indian rupees per 10 grams and reflect the figures provided in the November 7 source report.

Among the listed cities, Chennai has the lowest reported 24-carat gold price at ₹1,43,350 per 10 grams.

Delhi, Lucknow, Meerut and Ayodhya share the same quoted rate of ₹1,43,610 for 24-carat gold.

Customers should confirm the final rate with their jeweller before making a purchase.

Gold Prices Also Declined Around Dhanteras

Gold prices reportedly experienced a correction during the Dhanteras trading period as well.

According to the report, the price of gold in Delhi's bullion market declined by ₹2,500 to ₹1,46,300 per 10 grams, including applicable taxes.

The previous quoted price was ₹1,48,800 per 10 grams.

The decline was attributed in the report to weaker physical market demand.

However, the reported Delhi bullion quotation differs from the indicative retail gold rates shown in the city-wise table.

Such differences can arise because quotations may refer to different market segments, pricing conventions, tax treatments or reporting times.

Consumers should therefore avoid comparing figures from separate market categories without checking their basis.

Gold Remains Costlier Than the Previous Festive Season

Although gold has reportedly become cheaper in recent sessions, the precious metal remains expensive compared with the previous year's festive-period quotations.

The source report cites a gold price of ₹1,32,400 per 10 grams on October 18 of the previous year.

In comparison, the reported Delhi bullion price of ₹1,46,300 per 10 grams represents an increase of ₹13,900.

This indicates that the recent decline has not completely reversed the longer-term rise reflected in those quoted prices.

For consumers planning significant jewellery purchases, even a small percentage change in gold prices can make a noticeable difference to the final bill.

December Gold Futures Witness Sharp Correction

The report also highlights a separate decline in MCX gold futures for December delivery.

According to the quoted figures, the December gold contract fell by ₹2,178, or approximately 1.51%, to ₹1,41,917 per 10 grams during Friday's trading session.

The decline was associated with investors reducing their positions amid weaker spot-market demand.

However, futures prices can change rapidly during trading hours.

The quoted figures should be understood as market observations from the reported session rather than guaranteed settlement or current trading prices.

International Gold Prices Also Face Selling Pressure

The global gold market has reportedly witnessed a similar downward trend.

The source article cites international gold quotations at different points, including $4,079.50 per troy ounce and a spot price of $4,068.71 per troy ounce.

It also reports a separate New York market quotation of $4,049.43 per ounce.

These figures appear to represent different observations or market instruments and should not be interpreted as simultaneous prices.

International gold rates are influenced by several factors, including US dollar movements, interest rate expectations, bond yields, geopolitical developments and investor demand.

Changes in global gold prices can affect domestic bullion markets, although the rupee-dollar exchange rate and local market conditions also play important roles.

Why Are Gold Prices Falling?

Gold prices can decline for several reasons.

One factor is profit booking, where investors sell part of their holdings after a period of price appreciation.

Another is weaker physical demand, which can reduce buying pressure in bullion markets.

Changes in international interest rate expectations and currency movements may also influence the attractiveness of gold as an investment.

The source report specifically associates the recent correction with softer spot-market demand and reduced positions in gold futures.

However, it is difficult to attribute every market movement to a single cause.

Should You Buy Gold on Chhoti Diwali?

Gold purchases during Diwali and Dhanteras are associated with longstanding cultural and religious traditions in India.

For many households, buying gold jewellery or coins is both a festive custom and a form of long-term saving.

A decline in prices may make purchases slightly more affordable compared with recent higher quotations.

However, buyers should consider their budget and financial needs rather than making decisions solely because prices have fallen.

Those purchasing gold for investment should also understand that gold prices can fluctuate and that short-term returns are not guaranteed.

Important Things to Check Before Buying Gold Jewellery

Before purchasing gold during the festive season, consumers should pay attention to several important details.

Check gold purity: Understand the difference between 24-carat, 22-carat and 18-carat gold.

Verify hallmarking: Where applicable, look for the BIS hallmark and Hallmark Unique Identification (HUID) details. Buyers can use the BIS Care app to verify eligible hallmarked jewellery.

Compare making charges: Jewellery-making charges can vary significantly between sellers and designs.

Review the final bill: Confirm the gold weight, purity, applicable taxes, making charges and other fees.

Understand exchange policies: Ask the jeweller about buyback, exchange and deduction conditions before purchasing.

Keep the invoice: Preserve the purchase receipt for future verification, exchange or resale.

These precautions can help consumers make more informed decisions and avoid unexpected expenses.

Will Gold Prices Fall Further After Chhoti Diwali?

Predicting short-term gold price movements is difficult.

Future prices will depend on global market conditions, currency movements, investor demand and domestic buying activity.

A decline in futures prices does not guarantee that physical gold prices will continue falling.

Similarly, increased festive demand does not necessarily mean that gold prices will rise.

Consumers should monitor updated quotations from reliable bullion market sources and compare rates from authorised jewellers before making large purchases.

Conclusion

Gold prices have reportedly declined around Chhoti Diwali, providing some relief to buyers preparing for festive purchases.

According to the November 7, 2026 report, the indicative price of 24-carat gold stands at ₹1,43,610 per 10 grams in Delhi, while 22-carat gold is quoted at ₹1,31,650 and 18-carat gold at ₹1,07,640.

Meanwhile, MCX gold futures have also faced selling pressure, with the report citing a decline of ₹1,731 to ₹1,42,364 per 10 grams.

Despite the recent correction, gold remains relatively expensive compared with the previous festive season.

Before buying gold jewellery or coins, consumers should verify the latest local rates, check purity and hallmarking, and compare the complete purchase cost, including making charges and taxes.