The other Indian in the fray, Parth Makhija, who also qualified for the ranking event following an impressive show on Sunday, finished fourth with a score of 258.1, behind 33-year-old Israeli shooter Sergey Richter, who scored 259.9.
Deswal shot 238.8 to comfortably finish on top of the podium in the eight-women final while Bhaker managed 236.7 to settle for the silver medal.
India's teenage shooting sensations extended their dominance in the ongoing ISSF World Cup in New Delhi on Monday, winning the mixed team gold medals in both the 10m air pistol and 10m air rifle events to continue their stupendous run of form in the run-up to this year's Olympics.
Deepak Kumar and Divyansh Singh Panwar finished a lowly 26th and 32nd respectively in the men's 10 metres Air Rifle event of the Tokyo Olympics on Sunday
A dominant India claimed both the gold medals on offer by some distance in the men's and women's 10m air pistol team events on the third competition day of the ISSF World Cup Rifle/Pistol/Shotgun stage, in New Delhi, on Sunday.