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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 May 2017 (rates per gram for 24 karat gold)
|May 1st Rate||Rs.3,058 per gram|
|May 31st Rate||Rs.3,065 per gram|
|Highest Rate in May||Rs.3,065 per gram on 31st May|
|Lowest Rate in May||Rs.2,976 per gram from 11th-16th May|
May ’17 – Week 1 (1st – 7th)
- The price of gold in Surat in the first week of May was more or less stable, though prices fell due to demand fluctuations.
- Gold was priced at Rs.3,058 per gram on 1st May, with the price rising marginally to trade at Rs.3,061 per gram from 2nd-4th May.
- The French presidential election led to instability across most European markets, as exit polls suggested a close race.
- Industrial demand rose, though the increase was marginal as the U.S. Dollar was relatively unaffected.
- Prices dropped sharply, with gold trading at Rs.3,000 per gram on 6th May as news of Emmanuel Macron’s victory led to a massive market rally, which led to gold prices plunging.
May ’17 – Week 2 (8th – 14th)
- The price of gold continued to fall in the second week as markets were buoyed by the recent French election results, with currencies rising across the continent.
- Gold was priced at Rs.3,000 per gram on 8th May, with prices remaining constant for the next two days.
- The U.S. Dollar also rose on positive cues from the European markets as well as favourable data from the U.S. Federal Reserve that indicated a more robust monetary policy.
- Gold dropped to a monthly low of Rs.2,976 per gram on 11th May, with the price remaining constant till the week ended on 14th May.
May ‘17- Week 3 (15th to 21st)
- Gold prices continued to trade below expected levels at the start of the week, though the price picked up as the week progressed.
- Gold was priced at Rs.2,976 per gram on 15th May, though the price rose to Rs.2,997 per gram on 17th May as demand from jewellers picked up as markets began to stabilise.
- Gold jumped to Rs.3,029 per gram on 18th May as U.S. Treasury bonds fell as the repercussions of geo-political strife in the U.S. led to a drop in the dollar rate, which spurred demand in the yellow metal.
- Prices remained unchanged as the week drew to a close, with gold trading at Rs.3,029 per gram on 21st May due to favourable market conditions brought about by instability in the U.S. leading to a drop in market share.
May ’17 – Week 4 (22nd – 28th)
- The fourth week saw regional demand help stabilised prices as markets fluctuated, which in turn led to price volatility across the bullion markets.
- Gold was priced at Rs.3,043 per gram on 22nd May as the metal consolidated its gains from the previous week.
- Prices fluctuated on the commodity exchanges, though gold continued to trade at a stable rate due to an increase in regional demand as jewellers sought to replenish stocks before the implementation of GST.
- Gold prices fell to trade at Rs.3,035 per gram on 24th May due to market fluctuations but rose to Rs.3,050 per gram on 26th May.
- Prices remained steady as the week ended, with gold trading at Rs.3,050 per gram on 28th May.
May ’17 – Week 5 (29th -31st)
- The last week of May saw the price of gold rise marginally due to an increase in demand from both international as well as domestic markets.
- Gold was priced at Rs.3,050 per gram on 29th May as prices continued to remain stable, in spite of fluctuations in the U.S. Dollar value.
- Prices rose to Rs.3,060 per gram as gold neared a 3-month high as investors continued to trade in gold due to flagging U.S. Dollar rates.
- Prices rose as the month ended, with gold trading at Rs.3,065 per gram on 31st May to record an increase of 0.22% over the course of the month.
Trend of Gold Rate in Surat for April 2017 (rates per gram for 24karat gold)
|April 1st Rate||Rs.3,043 per gram|
|April 30th Rate||Rs.3,058 per gram|
|Highest Rate in April||Rs.3,118 per gram from 14th April to 16th April|
|Lowest Rate in April||Rs.3,038 per gram on 10th and 11th April|
April 2017 - Week 1 (1st - 9th):
- Gold trading was sluggish when April began as US dollar value seemed to strengthen owing to Fed rate hike.
- When trading began on 1st April, gold was priced at Rs.3,043 per gram - and as there was a sustained demand - didn’t change till the 4th.
- Although there was a price drop in the global market, local demand enabled gold rates to hit Rs.3,064 per gram on 5th.
- Rates didn’t change on 6th as demand remained unchanged despite some geopolitical tensions involving North Korea.
- On 7th, gold prices hit Rs.3,060 per gram as domestic demand fell even though dollar value fell.
- Gold prices didn’t change on the 8th and the 9th of April as traders were reluctant to buy amidst a unpredictable dollar trend.
April 2017 - Week 2 (10th - 16th):
- When trading opened on 10th, gold prices had further gone down to Rs.3,038 per gram - a Rs.22 per gram drop from the previous day’s prices.
- The US dollar seemed to stabilise for a day after some rough periods involving Syria and North Korea, which led gold prices to remain the same on the 11th.
- However, on 12th, rates went up by Rs.12 to reach Rs.3,050 per gram as investors grew nervous over the entire middle-east situation.
- As uncertainty in the market grew, dollar rates plummeted, spurring a massive increase of Rs.42 per gram in gold prices.
- The 13th saw gold prices go up to Rs.3,092 per gram and as market grew volatile over major concerns in the US, prices went up to Rs.3,118 per gram on 14th.
- As the issue showed no signs of letting off, gold maintained a sustained demand and was seen trading at Rs.3,118 per gram on the 15th and the 16th.
- It was during this week that gold rates reach their highest owing to some global tensions involving the US, particularly in regions like North Korea, Russia, and the middle east.
April 2017 - Week 3 (17th - 23rd):
- Due to a slight drop in demand, gold was seen trading at Rs.3,117 per gram on the 17th and the 18th.
- As gold sales no longer seemed to go up after hitting a 2-month high, gold rates were corrected as they hit Rs.3,113 per gram on 19th.
- The next four day from 20th to 23rd again didn’t witness any change in demand, which meant gold prices wouldn’t change by much.
- The third week signalled the imminent price drop which was expected to arrive over the next few days as several conflicts simmered down, thereby leading to a strengthening dollar.
April 2017 - Week 4 (24th - 30th):
- Gold traders had to brace themselves for a tardy end to April as bullion prices were largely on the decline owing to reduced demand.
- When the fourth week began on the 24th, gold prices had reached Rs.3,097 per gram - clocking a decline of Rs.16 per gram.
- As demand wasn’t holding up, prices corrected themselves to reach Rs.3,087 per gram on the 25th and the 26th.
- Due to the US dollar recovering from a seven-week low, gold prices took a massive hit, which led to bullion rates going down to Rs.3,058 per gram.
- After the Rs.29 fall on the 26th, gold rates didn’t witness any major catalytic events.
- From the 17th to the end of the month, gold rates remained at Rs.3,058 per gram as prices stabilised marginally.
- Despite the rapid fall during the latter half of April, gold rates were at an incline of 0.69%.
- The rise in price trends was due to major conflicts the US was part of, which led to its currency weakening significantly.
|March 1st Rate||Rs.3,080 per gram|
|March 31st Rate||Rs.3,029 per gram|
|Highest Rate in March||Rs.3,080 per gram on 1st and 2nd March|
|Lowest Rate in March||Rs.2,974 per gram from 15th to 17th of March|
March ‘17 - Week 1 (1st to 5th)
- Gold traded at Rs.3,080 per gram on the 1st of March in Surat due to increased demand for this precious metal.
- This rate was sustained the next day as well on account of stable demand. This was also the highest at which gold traded for the month.
- However, the gold rate in Surat fell slightly the next day due to slight recovery in the rate of the U.S. Dollar to trade at Rs.3,056 per gram.
- This rate was sustained until the end of the first week of March due to steady demand.
March ‘17 - Week 2 (6th to 12th)
- Price of gold in Surat was steady at Rs.3,056 per gram on the 6th and 7th of March before increasing to Rs.3,062 per gram on the 8th of March.
- However, this price could not be maintained due to a reduction in demand and hence the rate of gold fell to Rs.3,044 per gram on the 9th of March. Price of gold was steady at Rs.3,044 per gram on the 10th as well.
- As the week continued, price of gold in Surat continued to fall to trade at Rs.3,023 per gram on the 11th of March.
- There were absolutely no fluctuations noted in gold rate in Surat for the rest of the week as gold rate continued to trade steadily at Rs.3,023 per gram until the end of the week.
March ’17- Week 3 (13th to 19th)
- Gold rate in Suart was Rs.3,023 per gram which was a continuation of the price seen during the end of the second week of March.
- On the 15th of March, demand for gold fell to an all-time low resulting in the reduction of gold rate. This metal traded at Rs.2,974 per gram on the 15th and was steady at this rate until the 17th of March.
- On the 18th, price of gold increased to trade again at Rs.3,023 per gram and stayed stable at this rate until the end of the week.
March ’17- Weeks 4 (20th to 26th)
- On the 20th of March, price of gold was Rs.3,028 per gram which was a marginal recovery from that of the previous week’s prices.
- This price, however could not be sustained and the rate of gold fell by Rs.10 the next day to trade at Rs.3,018 per gram.
- A recovery in demand for this precious metal and positive cues from markets abroad resulted in the rate of gold shooting up to Rs.3,060 per gram.
- There were a few variations noted in the rate of gold during the fourth week of March.
- Price of gold in Surat fell by Rs.10 the next day to trade at Rs.3,050 per gram and stayed steady at this price until the end of the week.
March ’17- Weeks 5 (27th to 31st)
- There was a slight recovery noted in the rate of gold on the 27th of March wherein this precious metal traded at Rs.3,065 per gram before falling to Rs.3,060 per gram on the 28th of March.
- Rate of gold in Surat varied between Rs.3,045 per gram to Rs.3,049 per gram between the 29th and 30th of March.
- Demand for gold could not be sustained resulting in gold trading at Rs.3,029 per gram which was a decline of 1.65% as compared to the rate noted at the beginning of the month.
|February 1st Rate||Rs.3,035 per gram|
|February 28th Rate||Rs.3,095 per gram|
|Highest Rate in February||Rs.3,101 per gram from 25th-27th February|
|Lowest Rate in February||Rs.3,034 per gram on 4th & 5th February|
February ‘17 - Week 1 (1st to 5th)
- The price of gold in Surat for February did not see much change in the first week of February, with gold trading at Rs.3,035 per gram on 1st February.
- Prices rose marginally due to a slight rise in demand, trading at Rs.3,038 per gram on 2nd February, with the price remaining constant the next day as well.
- Prices fell to Rs.3,034 per gram on 4th February due to poor industrial demand and relatively steady global markets.
- Gold ended the week trading at Rs.3,034 per gram on 5th February, with prices falling by Re.1 per gram during the week.
February ‘17 - Week 2 (6th to 12th)
- Gold prices in the second week rose due to a steady increase in both local as well as industrial demand.
- Gold traded at Rs.3,044 per gram on 6th February and rose to Rs.3,075 per gram on 7th February as demand increased due to a dip in global markets.
- Prices were steady for a few days before dipping marginally to trade at Rs.3,068 per gram on 10th February.
- Prices remained constant as local demand was muted, keeping prices unchanged.
- A drop in demand due to a rally by U.S. stock markets led to gold prices reducing, resulting in gold ending the week at Rs.3,048 per gram on 12th February to record a weekly increase of Rs.4 per gram.
February ’17- Week 3 (13th to 19th)
- Gold prices in the third week of February were stable as the week began, with prices increasing marginally for the rest of the week.
- Gold was priced at Rs.3,044 per gram on 13th February, with the price remaining unchanged till 15th February due to stagnant demand.
- Prices rose to Rs.3,070 per gram on 17th February, with markets falling as no indication of an interest rate hike was forthcoming.
- Prices continued to trade at the same price as local demand fell, in spite of an increase in international demand.
- Gold ended the week trading at Rs.3,070 per gram on 19th February, recording an increase of Rs.26 per gram.
February ’17- Weeks 4 & 5 (20th to 28th)
- The last two weeks of February saw prices remain more or less constant, in contrast to most other cities in India.
- Gold traded at Rs.3,070 per gram on 20th February, with the price remaining unchanged till 24th February due to a sharp drop in local demand.
- A drop in demand from jewellers due to declining demand as the festive season ended led to prices remaining unchanged.
- Prices rose to trade at Rs.3,101 per gram on 25th February as overseas markets saw a sharp rise in demand, which helped boost prices in Surat as well.
- The month ended with gold trading at Rs.3,095 per gram on 28th February, recording a monthly increase of 1.97%.
|January 1st Rate||Rs.2,893 per gram|
|January 31st Rate||Rs.3,017 per gram|
|Highest Rate in January||Rs.3,060 per gram on 23rd & 24th January|
|Lowest Rate in January||Rs.2,841 per gram on 10th and 11th January|
January 2017 - Week 1 (1st - 7th):
- Surat too followed the positive growth trend that was evident in other major cities in the country.
- The first week began with gold trading at Rs.2,893 per gram - a rate which remained the same on the 2nd.
- On 3rd, prices dipped slightly owing to strong markets to hit Rs.2,888 per gram and continued at the same prices for the next three days till the 5th.
- The 6th saw prices increase by Rs.38 to clock one of the highest surges for the month to trade at Rs.2,926 per gram.
- The last day of week 1 on 7th saw gold prices go up again for the metal to trade at Rs.2,937 per gram.
January 2017 - Week 2 (8th-14th):
- Week 2 began with gold trading at Rs.2,937 per gram and remained the same on the 9th as well.
- On 10th, prices increased slightly due to poor markets for the metal to trade at Rs.2,941 per gram.
- The 12th saw gold prices surge by a whopping Rs.149 as markets began to tumble after Donald Trump’s ban was introduced.
- Prices didn’t change from then and remained the same when the week came to a close.
January 2017 - Week 3 (15th - 21st):
- The third week of January began with gold trading at Rs.2,990 per gram and then jumped to Rs.3,023 per gram on 16th.
- Prices again increased on the 17th as more and more people began investing in gold to bring the rates to Rs.3,034 per gram.
- Rates didn’t change for the next 3 days but decreased on 21st to bring gold prices down to Rs.3,024 per gram.
January 2017 - Week 4 and 5 (22nd - 31st):
- The last few days of January saw prices fluctuate considerably due to massive confusion over Donald Trump’s travel ban.
- On 22nd, gold was trading at Rs.3,024 per gram which went up to Rs.3,060 per gram on the 23rd.
- Price fell on the 25th to go down to Rs.3,032 per gram and fell again on 26th to hit Rs.3,029 per gram.
- There were no changes in trading price from 27th to 29th as no major events took place.
- The last two days of the month didn’t see any change in prices as gold was trading at Rs.3,017 per gram.
- Gold price trends saw an increase of 4.28% for the month of January.
|December 1st Rate||Rs.2,963 per gram|
|December 31st Rate||Rs.2,893 per gram|
|Highest Rate in December||Rs.2,963 per gram on the 1st and 2nd|
|Lowest Rate in December||Rs.2,825 per gram on the 22nd and 23rd|
December Week 1 (1st - 4th):
- On 1st and 2nd, gold traded at Rs.2,963 per gram. This rate also happened to be the highest gold rate for December.
- However, prices went down on the 3rd to Rs.2,958 per gram and remained the same on the 4th as well.
December Week 2 (5th-11th):
- On 5th,when week 2 began, gold prices still remained at Rs.2,958 per gram
- The 7th saw gold prices dip by a considerable margin by Rs.34 to trade at Rs.2,928 per gram.
- The next day on the 8th, prices increased by Re.1 to bring the prices up to Rs.2,927 per gram.
- The 9th saw prices decrease further down to trade at Rs.2,918 per gram - a Rs.9 per gram change - and maintained the same price till the end of the week.
December Week 3 (12th-18th):
- The 3rd week of December started with gold trading at Rs.2,918 per gram but decreased by Rs.15 to drop to Rs.2,903 per gram.
- Until the 17th there wasn’t any price change as Federal Reserve price cut issue was all over the news.
- On 17th, however, prices fell by a massive Rs.57 margin to bring gold prices down to Rs.2,843 per gram.
- When the week closed on the 18th, gold prices has slightly increased to Rs.2,846 per gram.
December Week 4 (19th- 25th):
- Prices didn’t change at all till the 21st as the previous week’s rate was still holding on.
- During this week, gold prices hit the lowest for the month to trade at Rs.2,825 per gram.
- As Christmas loomed large, prices seemed to increase. This was evidently proven by a Rs.25 increase on the 24th to reach Rs.2,850 per gram.
- This rate continued on till the 25th - the day of Christmas.
December Week 5 (26th - 31st):
- As festivities had drawn to a close prices plummeted on the 26th to bring prices down to Rs.2,836 per gram.
- Thanks to the imminent arrival of 2017, prices increased on the 27th to bring prices up to Rs.2,851 per gram.
- The 28th and 29th saw prices increase furthermore by Rs.25 to trade at Rs.2,876 per gram
- Prices hiked up again on new year’s eve to bring prices up to Rs.2,903 per gram.
- The last day of the year however saw prices decrease slightly to Rs.2,891 per gram.
- All in all, gold prices saw a decline of -2.36% for the month of December.
|1st Day||Rs.3,075 per gram|
|Last Day||Rs.3,012 per gram|
|Highest Price||Rs.3,250 per gram from 6th to 9th November|
|Lowest Price||Rs.2,981 per gram on 25th and 26th of November|
November 2016 - Week 1 (1st - 6th)
- The first week of the month was the most productive periods in terms of gold trading prices in the city.
- On the 1st, gold traded at Rs.3,199 per gram and continued to remain the same on the 2nd of November too.
- The 3rd saw a Rs.53 increase as gold prices hit Rs.3,252 per gram, highest trading price for the month. This trend remained till the closing hours of 6th November.
November 2016 - Week 2 (7th-13th)
- The 7th of November started relatively strong compared to other cities despite seeing a slight decrease from the previous week.
- Gold traded at the beginning of week 2 at Rs.3,234 per gram and fell to Rs.3,219 on the subsequent day.
- Trading prices increased again on the 9th to hit Rs.3,242 per gram and continued to remain the same till the 11th.
- On 12th, however, prices fell to Rs.3,175 per gram, a massive decrease of Rs.67 per gram. The week ended on the same price as the 12th.
November 2016 - Week 3 (14th-20th)
- The third week on November started quite strongly as gold traded at RS.3,175 and continued to maintain the same value for the following days till the 18th.
- On the 19th and 20th, however, prices fell to Rs.3,074, a decrease of Rs.101 due to demonetization.
- The week ended with gold trading at Rs.3,074 per gram.
November 2016 - Week 4 and 5 (21st to 30th)
- The final two weeks of November also witnessed its fair share of price fluctuations .
- At the beginning, on the 21st, gold traded at Rs.3,074, which held on for the 22nd as well.
- The 23rd, however, saw prices fall down by more than Rs.50 as they hit Rs.3,021 per gram.
- At Rs.2,981 per gram, the 25th and 26th saw the lowest trading rates for the yellow metal in the city.
- However, the prices picked up a fair bit to end the month on a strong note with a rate of Rs.3,012 per gram.
|1st Day||Rs.3,304 per gram|
|Last Day||Rs.3,199 per gram|
|Highest Price||Rs.3,304 per gram on 1st October|
|Lowest Price||Rs.3,157 per gram from 7th October to 13th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Gold traded at its highest price for this month on 1st October at Rs.3,304 per gram.
- Demand for the metal fell as expectations of the Fed rate hike grew strong in the global market.
- Demand subsided in the domestic market as well.
- Jewellers and retailers were expecting high demand in light of the festive season.
- By the end of the week, gold rates had dropped to Rs.3,157 per gram, the lowest for this week.
October 2016 – Week 3 (10th to 16th)
- Gold continued to trade at Rs.3,157 per gram from 10th to 13th October.
- The trend for this week was relatively constant.
- The low rate of gold could be attributed to weak global and domestic trends.
- Towards the end of the week, gold was able to recover on the back of festive demand.
- Gold traded at Rs.3,162 per gram from 14th to 16th October, the highest price for this week.
October 2016 – Week 4 (17th to 23rd)
- Gold traded at a constant pace this week.
- Steady demand kept gold rates at Rs.3,162 per gram for the entire week.
- As the global market firmed up, gold performed well with demand picking up.
- Demand is expected to be high as the festive season takes off.
October 2016 – Week 5 (24th to 31st)
- Gold prices climbed this week on the back of increased demand.
- Gold traded at Rs.3,162 per gram initially but was quick to rise to Rs.3,189 per gram from 26th October to 29th October.
- The dollar edged lowered and worked in favour of demand for gold.
- On 30th and 31st October, gold recovered to Rs.3,199 per gram.
- The trend for this month was a decline of 3.18% in gold prices.
|1st Day||Rs.3,245 per gram|
|Last Day||Rs.3,304 per gram|
|Highest Price||Rs.3,304 per gram from 27th to 30th September.|
|Lowest Price||Rs.3,245 per gram on 01st and 02nd of September.|
September '16 - Week 1 – (01st to 04th)
- 24K gold traded at Rs.3,245 per gram on the first day of the week in Surat.
- On 01st and 02nd of September gold traded at Rs.3,245 per gram which is lowest gold rate recorded in the month of September.
- As demand from domestic market picked up, gold rates slightly increased on 03rd September.
- The yellow metal closed at Rs.3,255 per gram.
- Therefore, the overall trend in gold prices was recorded to be an incline.
September '16 - week 2- (05th to 11th)
- Gold prices stood still on 05th and 06th of September as it continued to trade at Rs.3,255 per gram.
- As investors shrugged the Fed rate hike speculation, gold prices rallied and traded at Rs.3,291 per gram from 07th to 11th of September.
- Despite weak trend of gold rates overseas, the yellow metal managed to remain stable.
- Gold managed to trade at the same price from 07th to 11th of September as industrialists did not reduce their gold intake and the demand from domestic market was strong and constant.
- Experts predict gold rates to spike in the upcoming weeks on account of festive season in India.
September '16 - week 3 (12th to 18th)
- Gold continued to remain stable and traded at Rs.3,291 per gram from 12th to 17th September.
- Festive demand from domestic market helped gold maintain stability during this period.
- On 18th of September, gold rates dropped and closed at Rs.3,274 per gram.
- The fall in gold prices is mainly due to subdued buying interest and lacklustre demand.
September '16 - week 4 (19th to 25th)
- Gold continued to trade at Rs.3,274 per gram on the 19th of September.
- A slight increase in gold rates was reported on 20th, 21st and 22nd of September when gold traded at Rs.3,277 per gram.
- As expected gold rates increased on 23rd of September as jewellers geared up for the festive season.
- Gold closed at Rs.3,297 per gram after trading at the same price from the 23rd of September.
- The overall trend of gold was recorded to be an incline this week.
September '16 - week 5 (26th to 30th)
- Gold continued to trade at Rs.3,297 per gram on the 26th of September.
- An upward curve of gold rates was noted this week.
- The fast approaching festive season rose the demand for gold and increased the price of the yellow metal.
- The highest gold rate for the month was recorded from 27th to 30th September when gold traded at Rs.3,304 per gram.
- Experts forecast better days for gold in the upcoming weeks as festive season is the time demand for gold increases.
|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|
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