Archive · 7 Oct 2026
Gold Falls to One-Week Low in Delhi Amid Weak Demand
Gold became cheaper in Delhi for the second day in a row.
On Wednesday, 10 grams of gold cost ₹1,48,900.
Traders said people were buying less gold, and prices were also being affected by weak signals from global markets.
Rising oil prices and concerns about supply disruptions in West Asia added pressure.
The Indian rupee also weakened against the US dollar.
Silver prices in Delhi did not change, but silver became cheaper in international markets.
Investors were waiting for notes from a meeting of the US Federal Reserve to learn more about possible interest-rate decisions.
The Reserve Bank of India had also recently raised its benchmark interest rate.
Gold of 99.9% purity fell ₹700 to ₹1,48,900 per 10 grams in Delhi on Wednesday, October 7, 2026.
Traders and analysts cited subdued domestic demand and weak global cues as factors weighing on gold.
A rebound in crude oil linked to West Asia supply concerns also contributed to pressure on precious-metal prices.
The rupee fell 43 paise to a provisional close of 96.78 per US dollar, while silver held at ₹2.27 lakh per kilogram domestically.
International spot gold fell 1.14% to $4,116.55 per ounce, while silver dropped 2.26% to $59.97 as investors awaited US Federal Reserve meeting minutes.
- Who
- Gold and silver traders, analysts, and investors.
- What
- Gold prices fell for a second straight session; domestic silver prices were unchanged.
- When
- Wednesday, October 7, 2026.
- Where
- Delhi and international bullion markets.
- Why
- Subdued local demand, weak global cues, rising crude oil amid West Asia supply concerns, and currency and interest-rate pressures weighed on precious metals.
Factors Pressuring Bullion
Factors Limiting Downside
Domestic and global price pressures
Factors Pressuring Bullion
Analysts cited subdued retail demand, weak global cues, a stronger US dollar, and renewed West Asia supply concerns lifting crude prices as pressures on gold.
Factors Limiting Downside
The article says rupee depreciation limited gold's upside, but does not identify a clear countervailing factor that supported prices.
Interest-rate outlook
Factors Pressuring Bullion
The article reports that the RBI raised its benchmark rate and shifted to calibrated tightening; it also notes market expectations of a December US rate hike.
Factors Limiting Downside
Investors were awaiting US Federal Reserve meeting minutes for additional cues on the interest-rate outlook.
- Delhi gold price
- ₹1,48,900 per 10 grams for 99.9% purity, inclusive of taxes.
- Daily gold change
- Down ₹700 from Tuesday's closing price of ₹1,49,600.
- Delhi silver price
- ₹2.27 lakh per kilogram, unchanged for a third consecutive session.
- International spot gold
- Down $47.42, or 1.14%, to $4,116.55 per ounce.
- International silver
- Down 2.26% to $59.97 per ounce, a near three-month low.
- Rupee
- Down 43 paise to a provisional close of 96.78 per US dollar.
- RBI benchmark rate
- Raised by 25 basis points to 5.50%, according to the article.