Gold Price in Surat today - 28 May

last updated on 28 May 2022

India

0(per gram) (16K)

Gold holds a significant place in every auspicious occasion of India, including Surat. However, like other cities, the gold price in Surat also fluctuates depending on the change in domestic and global market conditions. So, check the rates of this precious metal before purchasing a gold piece or borrowing a loan against gold to avoid incurring a loss.

Gold Prices in Surat for different purity

PurityGold price 1 gramGold price 10 gram

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Gold Prices in Surat for last 7 days

DateGold price 1 gramGold price 10 gram
26 May, 2022₹ 5,400₹ 54,000
25 May, 2022₹ 6,000₹ 60,000
24 May, 2022₹ 6,500₹ 65,000
23 May, 2022₹ 7,000₹ 70,000
22 May, 2022₹ 7,500₹ 75,000
21 May, 2022₹ 6,500₹ 65,000
20 May, 2022₹ 7,500₹ 75,000
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Gold Price in Surat for 18K, 22K and 24K (Comparison Table for 18, 22, and 24 Karats)

Usually, three purity levels of a gold ornament are prevalent– 18, 22 and 24 karats. 18 karat contains 75% of gold and is the cheapest karat variety. On the other hand, 22 karat jewellery comprises 91.7% gold and is more pricey than 18 karat but less costly than 24 karat. Finally, 24 karat has 99.9% gold. Therefore, it is the purest and the most expensive. Usually, this karat type is delicate and soft and not used in making jewellery. Surat residents can check current gold rates on this page, which are updated daily.

Gold Rates in Surat Over the Last 7 Days

The price of yellow metal is volatile given the constant change in market conditions. This often confuses buyers and borrowers, and they fail to keep track of the same. Thus, the table below is an overview of the gold price trends in Surat for the last 7 days to help individuals get a clear idea. (insert table)

Experts speculate that the inflationary rise in the price of yellow metal in Surat will continue in the future, given its demand as a suitable investment choice among the residents. Take a look at this graph illustrated below, representing Surat's weekly and monthly gold price movement. (insert graph)

Check Gold Rate in Surat Before Borrowing a Loan

Besides acting as a hedge against inflation, gold also serves as collateral for obtaining a substantial fund to meet financial emergencies. However, borrowers must check the rates on this page before applying for a gold-backed loan. This is because the gold price in Surat today is different from what it was a few months back. Knowing and comparing rates with every lender will help them select the best loan offer in the lending market.

Factors Determining Gold Prices in Surat

Demand and supply, inflation, interest rate trends, geopolitical crises, the exchange rate between currencies, import duty, tax regime, and the Government's gold reserves impact the price of yellow metal in Surat. Besides, global change in gold prices also affects this metal's price in this city.

Simple Methods to Calculate Gold Prices in Surat

There are two methods to calculate the value of the yellow metal in Surat, and they are mentioned below:

  • Percentage Purity Method Gold's purity x weight x gold rate/ 24
  • Karat Purity Method Gold's purity x weight x gold rate / 100 Individuals can now use the above value to get results from our gold loan calculator.
  • To Know Gold Ornaments Required
  • Step 1: Click on 'Choose required Loan Amount'.
  • Step 2: Provide the required loan amount, tenure and interest rate to know the amount of gold needed to secure a loan, monthly and total interest rates.
  • To Know the Loan Amount Required
  • Step 1: Select 'Choose available Gold Weight'.
  • Step 2: Enter the weight and purity of gold. Finally, submit a repayment tenure and interest rate to know the eligible loan amount, monthly and total interest rate payments.

Reasons for Different Gold Prices Between Surat and Other Cities

The gold rate varies across different cities of India. Similarly, the price of yellow metal in Surat is different from other cities because of the following reasons:

  • Making charges on gold jewellery
  • Transportation costs
  • Taxes on the metal
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