Gold Rate Today in Surat (19th Apr 2024)

Gold is touted as one of the safest financial tools against inflation and is traded across the world in the form of bars, coins, bullions, jewellery, exchanges, mutual funds, mining stocks, Exchange Traded Fund (ETF), Futures and Options as well as digital gold.

The purity of gold is measured in terms of the standard unit ‘Carats’, with 24 carats being the purest form. However, the gold is liquid in this state and cannot be moulded into jewellery, coins, or even bars. Therefore, it is mixed with other metals such as silver and nickel to form an “alloy”. For instance, 22 carat gold is a mix of 22 parts of gold, i.e. 91.6% and two parts of other metal alloys. The greater the level of purity, the more expensive the gold is.

Hallmarked gold is laser engraved with details such as:
BIS logo
Retailer’s logo
Purity (916, 958 etc.)
Year of certification
Assaying centre’s logo

Hallmark guarantees purity. When you buy hallmarked or BIS verified gold, you are charged only for the gold percentage in your purchase. For instance, if you buy 22 carat gold, you’ll be charged as per the current 22K gold rate with respect to its weight.

Gold has been viewed as a safe and reliable investment tool throughout the pages of history.
Gold acts as an excellent hedge against inflation. As the standard of living increases, gold prices also raise.
In times of geopolitical instabilities or global crises, people have had turned to gold as a safe investment tool.
It is an excellent portfolio diversifier.
Although the price of gold may be volatile in short term, its value is maintained over the long term.
It holds greats cultural significance globally.
Since gold is a good conductor of electricity, it also enjoys demand in the fields of dentistry, heat shield as well as electronics and gadgets.

The purity of gold is measured in terms of the standard unit ‘Carats’, with 24 carats being the purest form. However, the gold is liquid in this state and cannot be moulded into jewellery, coins, or even bars. Therefore, it is mixed with other metals such as silver and nickel to form an “alloy”. For instance, 22 carat gold is a mix of 22 parts of gold, i.e. 91.6% and two parts of other metal alloys. The greater the level of purity, the more expensive the gold is.

Hallmark guarantees purity. When you buy hallmarked or BIS verified gold, you are charged only for the gold percentage in your purchase. For instance, if you buy 22 carat gold, you’ll be charged as per the current 22K gold rate with respect to its weight.

KDM gold is an alloy of 92 percent gold and 8 percent cadmium. Although it is considered high purity gold, it is not verified by BIS. This is due to the health issues related to cadmium for the artisans.

916 Gold is another name of 22 carat gold. It is used to denote the purity of gold in the final product, i.e. for every 100 grams of alloy, there is 91.6 grams of pure gold in it. 916 Gold is ideal for making jewellery and is also verified by BIS. In a similar way, 958 Gold is 23 carat gold, and 750 Gold is 18 carat gold.