Gold and Silver Prices Drop on Weak Spot Demand

Gold and silver prices saw a decline on Tuesday, October 6, 2026, driven by a drop in spot demand. Gold futures on the Multi Commodity Exchange fell by Rs 16, or 0.01%, to Rs 1,49,300 per 10 grams for December delivery. The trading volume reached 1,281 lots, reflecting weaker demand in the physical market.

Analysts pointed to the reduction in spot demand as the primary reason for the price drop. Globally, gold futures also dipped by 0.20% to USD 4,131.19 per ounce in New York, indicating a broader trend in the precious metals market.

Silver futures experienced a sharper decline, falling by Rs 466, or 0.21%, to Rs 2,25,621 per kilogram for December delivery. The trading volume for silver was higher, at 1,938 lots, as participants scaled back their positions. The overall sentiment in the market suggested a cautious approach among traders.