Gold Rate in Surat
Today MCX gold price in rupees per 10 grams.
(10 grams = 1 tola gold)
- 22 Carat Gold
- ₹ 55,250(10 gram)
- 24 Carat Gold
- ₹ 60,270(10 gram)
22 Carat & 24 Carat Compare Gold Rate In Surat (Today & Yesterday)
|Gold Rate 22 Carat||Gold Rate 24 Carat|
|Yesterday||₹ 55,650||₹ 60,700|
|Today||₹ 55,250||₹ 60,270|
Today 24 Carat Gold Price per gram in Surat (INR)
|Gram||Gold Rate Yesterday 24k||Gold Rate Today 24k||Daily Price Change|
|1 Gram Gold Rate||₹ 6,070||₹ 6,027||-43|
|8 Gram Gold Rate||₹ 48,560||₹ 48,216||-344|
|10 Gram Gold Rate||₹ 60,700||₹ 60,270||-430|
|100 Gram Gold Rate||₹ 6,07,000||₹ 6,02,700||-4,300|
Today 22 Carat Gold Price per gram in Surat (INR)
|Gram||Gold Rate Yesterday 22k||Gold Rate Today 22k||Daily Price Change|
|1 Gram Gold Rate||₹ 5,565||₹ 5,525||-40|
|8 Gram Gold Rate||₹ 44,520||₹ 44,200||-320|
|10 Gram Gold Rate||₹ 55,650||₹ 55,250||-400|
|100 Gram Gold Rate||₹ 5,56,500||₹ 5,52,500||-4,000|
Today Gold Rate of Metro Cities in India
|City||Gold Rate 22k||Gold Rate 24k|
|Bangalore||₹ 55,250||₹ 60,270|
|Chennai||₹ 55,650||₹ 60,710|
|Coimbatore||₹ 55,650||₹ 60,710|
|Delhi||₹ 55,350||₹ 60,370|
|Gurgaon||₹ 55,350||₹ 60,370|
|Hyderabad||₹ 55,200||₹ 60,220|
|Kolkata||₹ 55,200||₹ 60,220|
|Mumbai||₹ 55,200||₹ 60,220|
|Pune||₹ 55,200||₹ 60,220|
Today Gold Rate in Surat - An Overview
Surat, the Diamond City of India, is renowned for its diamond cutting, polishing, and love of gold. The city has a rich history of gold trading and craftsmanship, from exquisite gold jewellery to gold coins to bars. If you're a gold enthusiast or an investor curious about the latest gold rates in Surat, you've come to the right place. Here you will get well-versed with today's gold price in Surat, helping you stay updated on the latest trends, market movements, and investment opportunities in the city's glittering gold market. Whether you're a seasoned investor or a first-time buyer, our comprehensive coverage of the gold rates in Surat will help you make informed decisions and stay ahead of the curve.
Gold rates are dynamic and can fluctuate daily. Several factors, such as international prices, taxes, duties, and the demand-supply equation, influence the gold rates in Surat. Thus, staying updated with the ongoing price trends is essential to make an informed investment decision.
How to Measure the Purity of Gold?
While investing in gold, it is crucial to determine the purity of gold. It ensures that you refrain from investing your money in purchasing impure gold. With these various methods available, you can choose the one that best suits your needs and preferences to ensure you're investing in pure and genuine gold.
People generally look for the Karat System as it is one of the most commonly used parameters to determine gold's purity. As per this method, 24 Karat gold is considered the purest form. However, it is too soft to prepare jewellery; thus, other metals, including silver and copper, are mixed to form alloys. In Surat, you can find gold jewellery of 18K, 22K, and 24 K.
Further, people look for Hallmark to determine the purity of gold. It is a legal certification of gold purity and is considered a benchmark to assess the purity of gold. It is mandatory for all gold jewellery sold across India. Another method is Fineness, which expresses purity as parts per thousand.
Additionally, a few more methods are less popular but help determine gold's purity. These methods are assaying and XRF. Assaying is a method that tests the purity of gold by melting it down and analysing its chemical composition. X-ray fluorescence (XRF) testing is a non-destructive method that uses X-rays to measure the gold content in an item without causing any damage.
Modes to Make Gold as an Investment in Surat
Gold is a popular option in Surat, as it is considered a haven asset. Investors can make gold investments in various ways, including physical gold (jewellery, coins, bars) and gold ETFs. Investing in gold provides a hedge against inflation and currency fluctuations. Additionally, Surat is highly known for manufacturing gold jewellery (diamond-studded), so there is a massive demand for gold, making it a crucial investment.
- Gold Jewellery: Usually, people purchase jewellery for almost every occasion, i.e. from festivals to weddings. The intention behind the jewellery purchase is to have a liquid form of investment. It can be easily used for selling and mortgage purposes. However, the rate an individual gets on selling it depends on the purity of the gold and the current rate in surat.
- Gold Coin: When it comes to owning gold, people prefer purchasing gold coins based on their weight over gold jewellery. Almost every jeweller and a few banks provide gold coins. Usually, people buy gold coins on auspicious occasions, likely on Diwali. Gold coins are easily resold when there is a requirement for liquid cash. However, one can only sell it to jewellers as banks don't repurchase gold coins.
- Gold Bars: One more effective way to invest in gold in Surat is by purchasing gold bars. Gold bars can be easily traded in international markets too.
What to Consider Before Buying Gold Jewelry in Surat?
Never make a blindfolded decision when you plan to purchase or invest in gold. It is essential to know the quantity of gold and purity of the purchased item. Additionally, compare the making charges from different jewellers before making a purchase. In addition to this, there are several key considerations that one must look at before buying gold jewellery in Surat.
- Determine the purity of gold. Know whether it is pure or impure through the previously mentioned purity check parameters.
- Get familiar with making charges. Compare making charges from different jewellers and then put forward an informed investment decision.
- Ask whether the gold jewellery is man-made or machine-made. It is essential to know, as making charges on machine-made ornaments is less than the hand-made ones.
- Know the actual amount of gold weight present in the jewellery. Due to the presence of other stones, such as diamonds, the jewellery may seem heavier than it is.
- Consider making the gold investment in the off-season, i.e. not on occasions, as the prices are higher than usual.
- Look for the authenticity of the jeweller. The presence of numerous jewellers may lead to you getting trapped with someone who sells impure gold. Thus, always look for credible purchase stores.
Factors that Affect Today’s Gold Price in Surat
Various factors influence today's gold prices in Surat. Such factors are considered the key drivers of the gold rates. They can lead to either an increase or decrease in the gold price in Surat. Here's the list of main factors that can fluctuate gold prices:
- Demand and supply are among the foremost factors driving gold prices in surat. When there is high demand and low supply, it leads to surged gold prices. On the contrary, when the demand is lower than the supply of gold, the prices decrease.
- Interest rates also create a significant impact on gold prices in Surat. Both of them are inversely proportional. When interest rate rises, it impacts gold prices, creating a decline in the purchase of gold.
- Indians purchase vast amounts of gold jewellery, specifically during the wedding season and festivals. It leads to gold price surges during these seasons.
- A rising inflation rate, i.e. falling currency rate, also affects today's gold price in Surat. Gold is considered an ideal foil to inflation, even long-term inflation.
- The Government of India holds the Indian gold reserves, which purchase and sell gold through RBI. Gold prices fluctuate based on the price and quantities of a trade by the government.
- Gold is traded in US dollars in the international markets. Thus, currency fluctuations also significantly impact the gold prices in Surat.
- One other factor that is responsible for driving gold prices is import duty. India is the second largest gold consumer across the globe. Thus, import duty is comparatively higher in India, directly impacting gold prices.
What is the Difference between KDM and Hallmarked Gold in Surat?
KDM and hallmarked gold are two types of gold jewellery that differ in purity, durability, and price:
|KDM Gold||Hallmarked Gold|
|KDM stands for "Karat Divided by Mass," a method used in India to measure the purity of gold. KDM jewellery is made by mixing 92.5% pure gold with 7.5% other metals like silver, copper, and zinc. It makes KDM jewellery less pure than 24-karat gold, which is 99.9% pure. The advantage of KDM jewellery is that it is more durable and less likely to bend or break than pure gold jewellery. However, KDM jewellery is not considered as valuable as pure gold jewellery and is priced accordingly.||Hallmarked gold refers to gold jewellery certified by a government-approved agency for purity. In India, the Bureau of Indian Standards (BIS) is the authorised agency that certifies gold jewellery. Hallmarked gold jewellery is made of 24-karat gold or 22-karat gold and is considered of the highest quality and purity. Hallmarked gold jewellery is more expensive than KDM jewellery due to its higher purity and certification.|
KDM gold is comparatively less pure but more durable than hallmark gold. Additionally, hallmarked gold is of higher purity and is more valuable. However, hallmarked gold tends to be more expensive than KDM gold due to its higher purity.
Impact of GST on Gold Rate in Surat
The implementation of GST has significantly impacted the gold prices in Surat. Before the inception of GST, the tax on gold was capped at around 2%, but after GST, it increased to 3%. The increase in GST led to a rise in gold prices in Surat.
Latest News on Gold Rate in Surat
[27 February 2023] - Gold Prices in Surat Witness Decline
The price of gold in Surat has decreased due to concerns over higher interest rates from the Federal Reserve. Currently, the price of 10 grams of 22-karat gold in Surat is Rs 51,400, and 10 grams of 24-karat gold is Rs 56,070. The price of gold in the global market has also dropped by over 7% due to various factors, such as China's declining demand for gold, the US economy's resilience, and an increase in inflation rates. It has led to fears that the Fed may continue to hike interest rates in the coming months. As a result, the price of gold, which surged in February 2023, has decreased.
[7 November 2022] - Slight Slip in Gold Prices in Surat
Gold prices in Surat slightly decreased despite reaching a three-week high in the previous session. The price of 10 grams of 22-karat gold in Surat is Rs. 46,950, and 10 grams of 24-karat gold is Rs. 51,210. In the global market, spot gold is at $1,685 an ounce and US gold futures at $1,674 an ounce. The decline in gold prices is due to the US dollar gaining ground, making gold more expensive for other currency holders. However, bullion prices went up by 3% last Friday, with the dollar falling 2% after US jobs data raised hopes that the Fed would be less aggressive in raising interest rates in the future. The Fed's aggressive stance in raising interest rates has strengthened the dollar and reduced gold's appeal. Fed policymakers are still considering a slight rate hike at their next policy meeting. Investors are now awaiting US inflation data, which will be released later this week.
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Frequently Asked Questions (FAQs)
Why should investors buy gold in Surat?
Like many investors around the nation, investors in Surat buy gold for various reasons. Gold is usually considered a safe haven asset and helps diversify investment portfolios. Additionally, some investors buy gold to profit from rising gold prices.
Where to purchase gold in Surat?
In Surat, you get several options to buy gold. The most common options are jewellery stores, banks, and bullion dealers. However, while purchasing gold from any of these, look for their authenticity. Thus, consider buying gold from a reputable seller.
How to track today's gold rates in Surat?
Urban Money’s official website lets you easily track gold rates in Surat today. By being familiar with the current gold rate trends, you can make more informed gold investment decisions.
Additionally, it helps you to decide when the gold prices are trending high, i.e. right time to sell gold for liquidity.
Will I have to pay GST while purchasing Gold in Surat?
Yes, you must pay 3% GST on the gold purchase in Surat.
Why should I check the daily Gold rates in Surat?
Checking the daily gold rates in Surat is crucial for several reasons, including selling or purchasing gold, investing, and understanding the economic and financial trends in Surat.