Gold and silver prices moved lower on Friday, November 6, 2026, reversing their recent upward trend on Dhanteras. On the Multi Commodity Exchange (MCX), December gold futures declined by around 1.18%, while silver futures dropped nearly 1.24% during the afternoon session.
The decline followed a strong rally in precious metals, supported by hopes of easing geopolitical tensions and falling crude oil prices.
MCX Gold Price Today
MCX December gold futures fell 1.18% to ₹1,42,401 per 10 grams at around 2:13 PM on Friday. Gold had recorded a significant rise earlier this year, attracting investor attention amid global economic uncertainty.
MCX Silver Price Today
Silver futures with a December expiry also traded lower. The contract slipped 1.24% to ₹1,84,815 per kilogram at approximately 2:16 PM. After reaching record levels in January, silver experienced a sharp correction in February.
Should You Invest in Gold This Dhanteras?
According to a Monarch Networth Capital report, gold’s October correction remained within its estimated valuation range. The report suggested that prices had moved closer to the metal’s fair value.
It also highlighted that long-term investors could consider the current levels as a potential entry opportunity. However, investors should assess their financial goals and risk tolerance before making any investment decision.
International Gold Price Today
International gold prices fell below $4,050 per ounce on Friday after gaining sharply over the previous week. Despite the latest decline, the metal remained on track for a weekly gain of more than 4%, amid developments surrounding the US midterm elections.
Gold Price Outlook
Market experts remain positive about gold’s long-term prospects. However, they expect prices could move within a limited range in the near term.
Monarch Networth Capital’s valuation model estimates gold’s fair-value range at $3,248 to $4,595 per ounce, with a midpoint of $3,922. Investors should continue monitoring global economic developments, geopolitical events and currency movements before making decisions.
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