Gold Rate Today In Surat: May 10, 2024

Q: How is the rate of gold determined in India?

Firstly, “spot price” of 24K gold is set everyday in the U.S. dollar at the London bullion market. Then the exchange rate, customs duty, agriculture and infrastructure cess as well as transportation cost, cost added by jewelers, discount on bulk purchase, including taxes like GST are levied on the yellow metal to arrive at the landing cost to the consumer.

Q: How to invest in gold jewelry?

Physical gold can be obtained in the form of gold jewelry. A 24K gold has 99.9% purity and 22K has 91.6% purity. Others are 18K, 14K, 12K, and 9K, which are purity or fineness scales in gold karats. Here we analyze the daily change in gold rates across 10 Indian cities and investment options in the commodity.

Q: Is it the best time to buy gold?

It is best to evaluate your current personal finance situation and choose to invest in gold. Here’s today’s gold rate in your city .

Q: Tax on gold jewelry: How does it work?

Typically, GST and GST making charges are applicable for consumers upon buying gold jewelry. TDS of 1% is applicable if one buys physical gold of more than INR 1 lakh.

Dipen Pradhan

Forbes Staff

Published: May 9, 2024, 9:35am

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.

The price of gold is different across Indian states and cities. Forbes Advisor has put together the gold price of one and 10 grams of 24-Carat and 22-Carat pure gold in Surat today, as of 9:35 pm.

Gold Rate In Surat (May 10, 2024)

Today 22 Carat Gold Price in Surat (Per Gram)

Today 24 Carat Gold Price in Surat (Per Gram)

Gold Rates in Surat for the Last 10 Days (Per Gram)

Compare 22K & 24K Gold Rate In Surat (Yesterday & May 10, 2024)

Monthly Graph of Gold Rate in Surat (22 Carat gold)

Monthly Graph of Gold Rate in Surat (24 Carat gold)

Gold Rate In India Today: May 10, 2024

Where to Buy Gold in Surat?

Physical gold and gold saving schemes

Physical gold can be obtained upon full payment as well as through gold saving schemes offered by Jewelers. The scheme lets individuals pay a monthly fee without interest as installment for a specific tenure, and jewelers agree to pay the last installment on behalf of borrowers.

Sovereign gold bonds (SGBs)

The Reserve Bank of India (RBI) issues SGBs via banks from time to time. An individual can subscribe to a minimum of 1 gram of gold up to a maximum of 4 kgs. The value of one bond is 1 gram of pure gold.

Digital gold

The method of buying gold digitally involves various forms of investing including:

Gold exchange traded funds (ETFs): Stock exchanges allow traders to invest in an ETF, with one unit equivalent to 1 gram of pure physical gold.

Gold accumulation plan: Mobile wallets as well as Gold Rush plan of Stock Holding Corporation of India offers to buy digital gold that allow customers to buy and accumulate gold safely without any concern or worry.

Where to Sell Gold in Surat?

Retailers and dealers may buy gold from individuals upon verifying the bill of purchase, its purity, current cost, etc. Individuals can also avail of loans against their gold as collateral from banks and NBFCs . The interest rates on gold loans vary among banks on the basis of factors like weight of the jewelry, value (ranging from 18K to 24K), repayment period, to name a few.

Frequently Asked Questions (FAQs)

What is 916 gold?

916 Purity is 22 Karat gold used to make gold ornaments as pure as possible and is common for making jewelry in India.

What is the price of gold in major cities of India?

How is the rate of gold determined in India?

How to invest in gold jewelry?

Is it the best time to buy gold?

Tax on gold jewelry: How does it work?

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Dipen Pradhan Forbes Staff

Dipen Pradhan is a Staff Reporter for Forbes Advisor India. He has more than 10 years of experience in journalism. He covers the personal finance beat. When he is not writing, he enjoys documenting the community's ethnic knowledge, and travels to explore rural hotspots.