Stories
Gold Price Today: Gold and silver prices drop for the second consecutive day
N
News18•06-10-2026, 09:55
Gold Price Today: Gold and silver prices drop for the second consecutive day
- •Gold and silver prices continue to show a downward trend, providing relief to customers right ahead of the festive season.
- •Due to decreased domestic demand and the impact of Pitru Paksha, prices of 22 and 24-karat gold dropped further on October 6 across major cities.
- •In Mumbai and Kolkata, 22-karat gold is priced at Rs 1,36,740 per 10 grams, while 24-karat gold is down to Rs 1,49,170 per 10 grams.
- •Global markets are facing heavy pressure, with HSBC lowering its average gold price forecasts for 2026 and 2027.
Key Questions Answered
The decline in gold and silver prices is driven by a decrease in domestic market demand, out-of-reach prices, and customers turning away during the Pitru Paksha fortnight.
In Mumbai and Kolkata, 22-karat gold is Rs 1,36,740 per 10 grams and 24-karat gold is Rs 1,49,170 per 10 grams. In Delhi, 24-karat gold is recorded at Rs 1,49,320 per 10 grams and 22-karat gold at Rs 1,36,890 per 10 grams.
HSBC has lowered its average gold price forecast to $4,490 per ounce for 2026 and $4,825 per ounce for 2027. Additionally, the bank projected that central banks will resume massive gold purchases if prices fall below $4,000.
