*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
Gold Rate in Surat
Surat is a port city situated on the banks of the Tapti river, and was a major seaport in the West India until the East India Company shifted the presidency to Bombay (now Mumbai). Surat is popularly known for its diamond cutting and polishing, textiles, and for diamond-studded gold jewellery manufacturing. Surat itself accounts for 90% of the world’s diamond cutting and polishing, 99.9% of the country’s total rough diamond cutting and polishing, and 90% of the country’s total diamond exports. The demand for gold in the city is boomed with the falling gold prices with a 5 year low mark. Like all cities in India, Surat’s demand is keeping up with the exports and manufacturing jewellery, and keeping up with the upcoming festivities like Teej, Diwali and the big Indian wedding season. Jewellers are expecting to have a good season this year despite the fall in price of the precious metal worldwide.
Trend of Gold Rate in Surat for August 2016 (rates per gram for 24k Gold)
|First Day||Rs.3,247 per gram|
|Last Day||Rs.3,245 per gram|
|Highest Price||Rs.3,290 on 23rd to 26th August|
|Lowest Price||Rs.3,236 per gram on 8th to 14th|
August '16 - Weeks 1 (1st to 7th)
- Gold opened at Rs.3,247 per gram and remained steady till 03rd of August.
- Despite weak trend overseas, gold prices in India remained steady as domestic demand was not affected on account of the upcoming festive season.
- Gold prices further increased on 06th and 7th of August as low U.S economic data was expected.
- Gold closed at Rs.3,257 per gram, which was an overall increase for this week.
August '16 - Week 2 (8th to 14th)
- Gold rates dipped slightly on 8th of August and traded at Rs.3,236 per gram. This was also the lowest gold rate recorded in the month of August.
- Gold was sold at Rs.3,236 per gram throughout the week without any fluctuations.
- Due to Fed rate hike speculation, gold rates could not increase throughout the week.
- Gold closed at Rs.3,236 per gram, which was a constant trend for this week.
August '16 - Week 3 (15th to 21st)
- Gold rates slightly increased on 15th of August as demand overseas picked up.
- Gold rate increased to Rs.3,254 per gram on 15th and further increased to Rs.3,284 per gram on 19th of August and remained the same till the end of the week.
- Overall, this week ended with an increasing trend.
August '16 - Week 4 (22nd to 28th)
- Gold continued to trade at Rs.3,284 per gram on 22nd of August.
- Gold prices climbed on 23rd of August and traded at Rs.3,290 per gram and remained steady till the 26th of August. This was also the highest gold rate for the month.
- Gold succumbed to firm dollar rate and drifted on 27th of August and traded at Rs.3,274 per gram till the end of the week. .
August '16 - Week 5 (29th to 31st)
- Positive U.S employment rate caused gold rates to fall on the first day of the week when gold traded at Rs.3,263 per gram.
- Fed rate speculation, subdued demand from domestic jewellers also contributed to low gold rates in India.
- Gold closed at Rs.3,245 per gram.
- Experts expect gold rates to increase during the second half of the year on account of upcoming festivals.
Trend of Gold Rate in Surat for July 2016 (rates per gram for 24karat gold)
|1st July rate||Rs.3,224.00|
|31st July rate||Rs.3,244.00|
|Highest rate in July||Rs.3,287.00 on 7th and 8th|
|Lowest rate in July||Rs.3,207.00 on 15th|
|% Change||+ 0.62%|
July ‘16 - Week 1 (1st to 3rd)
- Gold traded at Rs.3,224 per gram on 1st July.
- Ignoring the global market, prices climbed to Rs.3,228 on 2nd July and 3rd July.
- Week 1 was a positive start for the month of July as prices steadily increased.
July'16 - Week 2 (4th to 10th)
- On 4th July, gold traded at Rs.3,285 per gram.
- Returns on gold proved to be good as returns on equities dropped drastically.
- Gold hit high rates on 7th and 8th July trading at Rs.3,287 per gram, the highest for the month.
- Gold rates slipped as the U.S. released positive non-farm job data. The week ended at Rs.3,222 per gram.
July'16 - Week 3 (11th to 17th)
- Gold traded at Rs.3,223 on 11th July which was followed by fluctuations till July 15th.
- Gold stabilised by the end of the week, trading at Rs.3,218 per gram.
- With uncertainty in the market due to the Brexit vote coupled with a rising dollar, gold rates dropped overall for Week 3.
July ‘16 - Week 4 (18th to 24th)
- Gold traded steadily through Week 4. Gold prices were at Rs.3,218 per gram from 18th to 20th July.
- Prices dropped to Rs.3,212 per gram on 21st July, the lowest for the week as the U.S. released positive job data.
- Gold recovered on July 23rd and remained unchanged till the end of the week trading at Rs.3,217 per gram.
July ‘16 - Week 5 (25th to 31st)
- Gold recovered in Week 5 as domestic demand increased.
- Gold traded at Rs.3,217 per gram and only increased through the week.
- The purchases by jewellers increased leading to prices rising to the highest for the week on 31st July when gold traded at Rs.2,444 per gram.
|1st June rate||Rs.2,991|
|30th June rate||Rs.3,209|
|Highest rate in June||Rs.3,212 on 25th June|
|Lowest rate in June||Rs.2,991 on 1st June|
Jun'16 - Week 1 (1st to 4th)
- Rates at the beginning of the month were quite low at Rs.2,991 per gram on the 1st and 2nd of June.
- Price of gold increased slightly on the 3rd to reach R.3,003 per gram.
- Gold closed at Rs.3,055 per gram on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Rate of gold was quite steady on the first two days of the week at Rs.3,055 per gram.
- Prices declined slightly over the next few days, staying at Rs.3,050 per gram from the 7th to the 9th.
- Gold rates increased by Rs.13 the next day, and was Rs.3,103 per gram.
- The precious metal closed at Rs.3,098 per gram on the last day of the month.
Jun'16 - Week 3 (12th to 18th)
- The rate of gold varied over the course of the third week of the month.
- From 12th of June to 13th of June gold rate was Rs.3,098 per gram.
- There was an increase in price only on the 14th after which it decreased again.
- Price of gold was steady at Rs.3,096 per gram from 15th June to 16th June
Jun'16 - Week 4 (19th to 25th)
- Gold was priced at Rs.3,102 per gram on the 19th after which rates increased quite significantly over the course of the week.
- Price of gold was Rs.3,121 on the 20th after which it reduced slightly.
- Gold rates reduced even further to hover between Rs.3,099 to Rs.3,094 until the 23rd.
- The week closed with gold being priced at Rs.3,212 per gram which was also the highest for the month.
Jun'16 - Week 5 (26th to 30th)
- The price of gold was steady at Rs.3,212 per month until the 27th after which a marginal decline was noted.
- Gold prices continued to decline until the 29th wherein the rate of gold was Rs.3,153 per gram.
- Gold closed at Rs.3,209 per gram at the end of the month.
|1st May rate||Rs.3,147|
|31st May rate||Rs.2,991|
|Highest rate in May||Rs.3,155 from the 8th to the 11th of May|
|Lowest rate in May||Rs.2,991 on the 30th and 31st of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Gold rates were recorded at Rs.3,147 on the 1st of May, after which an increase of Rs.22 on the second day saw rates rise to Rs.3,169 and remain unchanged until the 3rd of the month.
- A decline by Rs.17 on the 4th of May saw prices fall to Rs.3,152 and they remained unchanged until the 6th.
- Prices declined by Rs.5 on the last day of the week to close at Rs.3,147.
- There was no difference in rates when comparing the first day of the week with the last as marginal declines were written off by subsequent gains.
May ‘16 - Week 2 (8th to 14th)
- Following an increase at the start of the week, gold rates jumped to Rs.3,178 on the first day of the second week.
- A decline by Rs.31 saw prices plunge back to Rs.3,147 on the second day of the week, followed by a further decline of Rs.20 on the 10th of May, after which a marginal increase of Rs.9 saw prices climb to Rs.3,138 and remain constant until the end of the week.
- The overall decline in prices over the course of the week was recorded at Rs.40.
May ‘16 - Week 3 (15th to 21st)
- Gold prices rose by Rs.15 on the first day of the third week of May and settled at Rs.3,153 for the next day as well.
- Prices then fell by Rs.10 on the 17th of May to remain at Rs.3,143 for the next two days.
- A further decline by Rs.35 on the 19th of May saw prices fall to Rs.3,108, after which an increase of Rs.10 on the 21st lifted rates to Rs.3,118 at the close of the week.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices declined continuously from the 22nd of May to the 25th, but one of the most significant drop in prices was recorded on the 24th when rates dipped by Rs.58 from Rs.3,106 to Rs.3,048.
- An increase of Rs.10 on the 26th of the month saw prices rise to Rs.3,058 and they remained stable until the 29th of the month.
- The biggest decline in the month was recorded on the penultimate day of the month as prices fell by Rs.67 to close the month at Rs.2,991.
- Gold prices fell by Rs.156 between the first and last day of May.
|1st April rate||Rs 2,988|
|30th April rate||Rs 3,147|
|Highest rate in April||Rs 3,147 on 29th, 30th|
|Lowest rate in April||Rs 2,957 on 4th|
|% Change||+ 5.32%|
Apr ‘16 - Week 1 (1st to 3rd)
- Talks of a Fed rate change impacted markets, affecting gold prices in Surat.
- Markets remained static, as gold traded at Rs 2,988 on 1st.
- No rate change was observed over the week.
Apr ‘16 - Week 2 (4th to 10th)
- Prices fell to Rs 2,957 on 4th, a drop of over Rs 30 compared to rates in the previous week.
- Increased demand led to a steady rise in rates over the week.
- Prices crossed the Rs 3,000 mark on 10th, as gold traded at Rs 3,037.
- An overall increase of Rs 80 was witnessed during this period.
Apr ‘16 - Week 3 (11th to 17th)
- Gold rates fluctuated on account of changing market trends.
- Gold traded at Rs 3,037 on 11th and peaked at Rs 3,073 on 12th.
- Prices fell over the next few days, as the week ended with gold trading at Rs 3,031, signalling an overall drop of Rs 6.
Apr ‘16 - Week 4 (18th to 24th)
- Fluctuations in gold rates continued on account of international trends.
- Gold traded at Rs 3,051 on 18th, touching Rs 3,072 on 20th.
- Prices remained stable at Rs 3,072 till 23rd, before dropping marginally.
- The week ended with gold trading at Rs 3,053 on 24th.
Apr ‘16 - Week 5 (25th to 30th)
- An increased demand for gold and its safe haven reputation led to a sharp hike in rates over the week.
- Gold traded at Rs 3,057 on 25th, with prices increasing on a daily basis.
- Prices peaked at Rs 3,147 on 29th and remained at this mark to end the month on a high.
|1st March rate||Rs 3,067|
|31st March rate||Rs 2,988|
|Highest rate in March||Rs 3,090 from 3rd to 19th march|
|Lowest rate in March||Rs 2,974 on 23rd, 24th and 25th|
Mar'16 - Week 1 (1st to 6th)
- Jewellers in the city joined protests against the decision to hike import duties on gold, impacting gold trade in Surat.
- Gold price fell from Rs 3,067 on March 1st to Rs 2,991 on 2nd.
- Rates picked up as prices climbed to a high of Rs 3,090.
- Rates remained unchanged throughout the week.
Mar'16 - Week 2 (7th to 13th)
- Protests against the new amendment continued in the city.
- Gold markets were impacted due to these protests, resulting in no gold activity.
- Gold rates remained unchanged through the week, staying at Rs 3,090.
Mar'16 - Week 3 (14th to 20th)
- Protests disrupted market trade for the third straight week.
- Some jewellers were open for business but there were no major changes in prices.
- Gold rates remained unchanged till 19th, staying at Rs 3,090.
- Prices dipped on 20th, falling to Rs 2,991.
Mar'16 - Week 4 (21st to 27th)
- Protests began to fizzle out as most jewellers reopened their stores.
- Prices stayed steady at Rs 2,991 for three days, before falling to Rs 2,974 till 25th.
- Prices went up to Rs 2,988 and stayed at this mark for the rest of the week.
Mar'16 - Week 5 (28th to 31st)
- With protests coming to an end, jewellers were back to normal business.
- There was no change in gold rates from the previous week.
- Prices were constant at Rs 2,988.
|1st February rate||Rs.2,714|
|29th February rate||Rs.3,067|
|Highest rate in February||Rs.3,067 on 27th, 28th and 29th|
|Lowest rate in February||Rs.2,714 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold rates appreciated in the 1st week of February.
- Prices were Rs.2,714 on 1st and Rs.2,850 on 7th.
- Gold rose throughout the week, with cumulative gains totalling Rs.136 clocked during the week.
Feb '16 - Week 2 (8th to 14th)
- Gold prices depreciated during the 2nd week of the month.
- Prices were Rs.2,871 on 8th and Rs.3,014 on 14th.
- Gold rallied to Rs.2,944 on 9th and 10th before falling back to the 2,800s on 11th.
- Prices breached the 3,000-mark for the first time this month on 12th when gold was trading at Rs.3,036.
- Gold dropped a little to end the week at Rs.3,014.
Feb '16 - Week 3 (15th to 21st)
- Gold rates rose in the 3rd week.
- Rates were Rs.2,997 on 15th and Rs.3,038 on 21st.
- Gold fell to Rs.2,956 by 18th before rising to Rs.3,038 by 21st to end the week on a positive note.
Feb '16 - Week 4 (22nd to 29th)
- Gold gained more value during the end of February.
- Prices were Rs.3,000 on 22nd and Rs.3,067 on 29th.
- Gold traded above 3,000 all through the week, rising on all days and settling at a high of Rs.3,067.
|4 th January rate||Rs.2,616|
|31 st January rate||Rs.2,781|
|Highest rate in January||Rs.2,788 on 28th and 29th|
|Lowest rate in January||Rs.2,550 on 5th|
- Gold rates appreciated in the 1st week of January.
- Prices were Rs.2,616 on 4th and Rs.2,630 on 10th.
- Gold lost value on 5th to fall to Rs.2,550, but recovered the losses and then posted profits within the back on the back of increased seasonal demand as well as strong global cues.
- Prices appreciated to Rs.2,700 by 8th before dropping to Rs.2,630 on 9th and settling there for 10th also.
- Gold prices depreciated during the 2nd week of the month.
- Prices were Rs.2,701 on 11th and Rs.2,680 on 17th.
- Gold appreciated to Rs.2,706 by 13th before dropping to Rs.2,598 by 16th.
- Gold regained some of the lost value on 17th to settle at Rs.2,680 for the week.
- Gold rates appreciated in the 3rd week.
- Rates were Rs.2,680 on 18th and Rs.2,729 on 24th.
- Gold was volatile throughout the week, rising to a high of Rs.2,729 on 22nd, 23rd and 24th and falling to a low of Rs.2,646 on 20th.
- Gold rates appreciated again during the last week of January.
- Prices were Rs.2,729 on 25th and Rs.2,781 on 31st.
- Gold rose to Rs.2,788 by 29th before declining to Rs.2,700 on 30th.
- Gold regained the lost value on 31st to settle at Rs.2,781 for the month.
|1st December rate||Rs.2,550|
|31st December rate||Rs.2,558|
|Highest rate in December||Rs.2,665 on 5th and 6th|
|Lowest rate in December||Rs.2,550 on 1st|
- Gold rates appreciated in the 1st week of December.
- Prices were Rs.2,550 on 1st and Rs.2,596 on 7th.
- Gold rose by Rs.66 over 2nd and 3rd to touch Rs.2,616.
- Gold rose by Rs.40 on 6th to Rs.2,665 from Rs.2,615.
- Gold stabilized at Rs.2,596 for the week on 7th.
- Gold was largely stable in the 2nd week of the month.
- It was priced at Rs.2,593 on 8th and Rs.2,597 on 14th.
- Prices settled at Rs.2,553 by 13th before rallying on the last day of the week to Rs.2,597.
- Gold rates fell in the 3rd week.
- Rates were Rs.2,576 on 15th and Rs.2,552 on 21st.
- Gold settled at Rs.2,560 by 18th before rising to Rs.2,596 by 20th.
- Prices dropped by Rs.44 on 21st to rest at Rs.2,552.
- Gold rates were volatile in the last days of December.
- Prices were Rs.2,562 on 22nd and Rs.2,558 on 31st.
- Gold rates fluctuated from as low as Rs.2,558 to as high as Rs.2,634 till 27th.
- Prices stabilized around Rs.2,558 from 28th to 31st.
|1st November rate||Rs.2,686.50|
|Highest rate in November||Rs.2,686.50 on 1st|
|Lowest rate in November||Rs.2,550 on 21st, 22nd and 25th|
- Gold rates depreciated in the 1st week of the month.
- Prices were Rs.2,686.50 on 1st and Rs.2,590 on 7th.
- Gold depreciated continuously all through the week, except for 3rd when prices rose marginally to Rs.2,680 from Rs.2,674.
- Gold lost value in the 2nd week of the month.
- It was priced at Rs.2,590 on 8th and Rs.2,557 on 14th.
- Gold rose to Rs.2,628 on 9th before dropping over the next 2 days to settle at RS.2,573.50.
- Prices rose to RS.2,627 on 12th but lost Rs.70 over the next 2 days to settle at Rs.2,557 for the week.
- Gold rates had an overall stable 3rd week.
- Rates were Rs.2,557 on 15th and Rs.2,550 on 21st.
- Gold had a specially gainful session on 16th when prices appreciated to Rs.2,680, a gain of Rs.123.
- The gains were shed almost immediately as prices dropped to Rs.2,595 on the next day and settled at Rs.2,571 by 20th.
- Gold lost Rs.21 on the last day of the week to rest at Rs.2,550.
- Gold rates were stable overall in the last days of November.
- Prices were Rs.2,550 on 22nd and Rs.2,558 on 30th.
- Gold appreciated to Rs.2,579 by 23rd before losing out the gains in the next 2 days to settle at Rs.2,550 once more on 25th.
- Gold rose to Rs.2,582 on 26th and dropped to Rs.2,558 by 30th.
Details of Gold Price in Surat (22 Karat & 24 Karat) - Till August 2015
24 karat gold – The purest form of gold a person can buy is 24 karat gold, the purity of it is 99.99%. Anyone who would like to buy 1 gram of 24 karat gold in Surat should look at spending Rs. 2,522 as on 11th August, 2015. Over the last few months the gold rates have been on the downward trend ranging from Rs. 2,650 in July to Rs. 2,522 in August of this year. The downward decline is owing to the falling international gold rates, with economic policies which have made a big impact on rates across the country. With the current trends, the rates are expected to fall further in the next few months.
22 karat gold – Gold is about 92% pure when it’s 22 karat and is a more preferred choice of jewellers when used to make jewellery. Due to the purity being lesser than 24 karat gold, the price also differs slightly, making 1 gram of 22 karat gold cost Rs. 2,360 for buyers in Surat. Gold rates were at it’s peak in August 2014 and January 2015, and trading at close to Rs 2,700/g in both cases. The falling rates in gold have seen a 5 years low and are expected to drop further.
Gold investment avenues in Surat
In Surat gold is purchased as an investment in forms of coins, bars, jewellery. They are bought for religious, auspicious and wedding related occasions. Since Surat is known for its diamond-studded gold jewellery manufacturing, the demand for gold for purposes is also a crucial investment.
- Jewellery: People in India purchase jewellery for all kinds of occasions, such as festivals, weddings, religious functions and more. The jewellery pieces are purchased with the intention of having a liquid form of investment, and also serves the purpose of selling or mortgaging the jewellery. The rate of the selling at the time, is dependant of the purity and the current gold rate.
- Gold coins: Another very common way of owning gold in India is purchasing gold coins based on it’s weight. They are available in most jewellers in the country and also with certain banks. Gold coins are generally purchased during auspicious occasions in India and serve as a form of blessing as well from elders. Gold coins can again be sold to jewellers if the holder needs liquid cash, but it will not be re-purchased by a bank.
- Gold bars: This is another way of purchasing gold, and one of the many ways of investing in gold. This form of gold can be traded in international markets as well.
- Also Check:Gold Rate in Gujarat
Also Check Gold Price in NearBy Cities of Surat
|Gold Rate In Ahmedabad||Gold Rate In Vadodara||Gold Rate In Rajkot|
|Gold Rate In Jamnagar||Gold Rate In Indore||Gold Rate In Mumbai|
|Also Know: Silver Rate in Surat|
Read more on Gold
- Akshaya Tritiya in 2016
- Why Investing In Gold Is A Golden Opportunity
- How To Buy Gold Coins/Bars (Bullion) Online
- Where To Buy Gold In India
- Basic Highlights of The Gold Schemes Launched in 2015
- Hallmark, KDM and 916 Varieties of Gold