Gold Rate Today in Madurai Last Updated : 29 Nov 2022

The demand for gold in the city of Madurai is high. Mostly used for ornamental purposes, the number of jewelers in the city too are found in abundance.

Located in Tamil Nadu, the gold rate in Madurai is primarily influenced by the demand and supply for the metal. However, other factors such as the dollar – rupee relation, global economic condition, etc., too affect the price of the yellow metal. Read on for a detailed report on the gold prices today in Madurai.

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  • Today's Gold Rate in Madurai (29 Nov 2022)

    ₹ 4,916
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Madurai (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) (1 gram) ₹ 4,916 ₹ 4,921 ₹ -5 ↓
    Standard Gold (22 K) (8 grams) ₹ 39,328 ₹ 39,368 ₹ -40 ↓
    Pure Gold (24 K) (1 gram) ₹ 5,162 ₹ 5,167 ₹ -5 ↓
    Pure Gold (24 K) (8 grams) ₹ 41,296 ₹ 41,336 ₹ -40 ↓

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    29 Nov 2022 ₹ 4,916 ₹ 39,328 ₹ 5,162 ₹ 41,296
    28 Nov 2022 ₹ 4,921 ₹ 39,368 ₹ 5,167 ₹ 41,336
    27 Nov 2022 ₹ 4,925 ₹ 39,400 ₹ 5,171 ₹ 41,368
    26 Nov 2022 ₹ 4,925 ₹ 39,400 ₹ 5,171 ₹ 41,368
    25 Nov 2022 ₹ 4,935 ₹ 39,480 ₹ 5,182 ₹ 41,456
    24 Nov 2022 ₹ 4,931 ₹ 39,448 ₹ 5,178 ₹ 41,424
    23 Nov 2022 ₹ 4,885 ₹ 39,080 ₹ 5,129 ₹ 41,032
    22 Nov 2022 ₹ 4,905 ₹ 39,240 ₹ 5,150 ₹ 41,200
    21 Nov 2022 ₹ 4,920 ₹ 39,360 ₹ 5,166 ₹ 41,328
    20 Nov 2022 ₹ 4,925 ₹ 39,400 ₹ 5,171 ₹ 41,368

    Weekly & Monthly Graph of Gold Rate in Madurai (1 gram)

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    • 6 Months

    *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.

    Todays Gold Price in Madurai

    In India, we purchase and use gold primary in the form of jewelry. But the classic Indian mindset is changing and we are viewing gold in a different way than just as an expensive ornament – as an investment, that can be traded for a profit.

    In Madurai, a large tier-2 city in Tamil Nadu, the demand and awareness of gold as a tradable commodity is increasing.

    Market Rates & Gold Price Trends in Madurai

    Gold rate fluctuates, and it is during these fluctuations that investors can make money. At the start of April, 2015, the cost for 1 gram of 24 karat gold was Rs.2,654 and went up to Rs.2,747 by the start of May, 2015. By mid-May, the gold rate hit Rs.2,776, and dropped to Rs.2,731 by the start of June. In June, the gold rate had dropped down to Rs.2,696, but has now risen and is plateaued at Rs.2,715 (as on 15th June 2015). Studying these fluctuations is the key to smart investing and eventually growing your finances by investing in gold in Madurai.

    Investing in Gold in Madurai

    One can make the following investments in Gold in Madurai today:

    Gold coins are the most common form of investment in Madurai, Tamil Nadu and the rest of India when it comes to gold. Gold coins can be bought easily over the counter at any gold trader, they are cheaper, smaller, come in various weights like 1 gram, 2 grams, 5 grams, 10 grams, etc. and represent smaller investments than, say, gold bullion. Fluctuations in the price of gold affect bullion and coins in the same way, and the risk and reward will be proportional to the amount of cash you invest. Gold coins are available from most gold merchants and the weightages available range from 1 gram to 500 grams.

    Gold bullion is an investment in larger quantities of gold, from a certified authority, in the form of bars, tablets or standard-sized pieces, used primarily as an invested commodity. Gold bullion is generally traded in weightages over 500 grams, the most common being 1 kilo. International gold trading usually happens with gold bullion being the medium for the same, apart from gold ownership certificates. Most gold bullion is internationally tradable, depending on the authority that sells you the gold.

    Jewelry and ornaments are still the largest form in which gold is bought and sold in India. When gold is shaped into ornaments and jewelry, it is sometimes mixed with an alloy to allow for greater malleability, which results in the loss of some purity. Since there are festivals and events (like marriages) which have gold as their central theme, most Indians prefer to buy gold in the form of jewelry and ornaments. This is to increase the utility of the asset as a gift, a daily use item and also as a means of preserving the asset value, should the need arise to sell it.

    It’s vitally important to read up on the factors that affect the gold rate, such as the strength of the US Dollar, demand versus supply, international currency movements, etc.

    Buying Gold in Madurai

    One can purchase gold as an investment, or as jewelry from many stores and traders across the city of Madurai such as Balan Jewellery, Shanmuga Jewellers, Prince of Peace Jewel Crafts, Annam Jewellers, Joyalukkas, Tanishq, Ponnazhagu Jewellers, etc.

    When buying gold in Madurai, it is highly recommended that you buy from a well-established and certified dealer. Ensure that the gold is stamped, engraved or in some way certified and determined to be real gold of whichever purity you choose – 22 karat or 24 karat. Make sure that you also get a certificate of authenticity which contains details of purity, rate on the date of purchase and the amount of gold purchased – along with the gold.

    FAQs on Gold Rate in Madurai

    1. Will the gold price in Madurai keep changing?

      Yes, the gold price in Madurai may keep fluctuating or changing due to various factors which affect the price of gold in the country. Some of these factors include the value of the rupee against the U.S. dollar, the price of crude oil, the trend of the equities market, etc.

    2. What factors do I check before buying gold in Madurai?

      A few important things to keep in mind before buying gold in Madurai are: The price of gold per gram, The level of purity, Certification of the metal and Buy-back terms of the lender

    3. Will gold prices decrease in Madurai?

      Given the volatility in the market, the price of gold may or may not fall as there are many factors which affect the price of the yellow metal in Madurai and in India.

    4. What international factors affect the gold rate in Madurai?

      Several factors affect the price of gold in Madurai such as crude oil prices, the value of international currencies, etc.

    5. How many grams are there in one ‘tola’ of gold?

      One ‘tola’ of gold is equivalent to 10 grams of gold at present. The term ‘tola’ has been used to measure metals such as gold and silver for many years.

    Check Gold Price in NearBy Cities of Madurai

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