Gold Rate in Madurai

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 in Madurai.
More
  • Today's Gold Rate in Madurai ( 17 Oct 2021 )

    ₹ 4,465
    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 ) ₹ 4,465 ₹ 4,515 ₹ -50 ↓
    Standard Gold (22 K) ( 8 grams ) ₹ 35,720 ₹ 36,120 ₹ -400 ↓
    Pure Gold (24 K) ( 1 gram ) ₹ 4,688 ₹ 4,741 ₹ -53 ↓
    Pure Gold (24 K) ( 8 grams ) ₹ 37,504 ₹ 37,928 ₹ -424 ↓

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    16 Oct 2021 ₹ 4,465 ₹ 35,720 ₹ 4,688 ₹ 37,504
    15 Oct 2021 ₹ 4,515 ₹ 36,120 ₹ 4,741 ₹ 37,928
    14 Oct 2021 ₹ 4,505 ₹ 36,040 ₹ 4,730 ₹ 37,840
    13 Oct 2021 ₹ 4,444 ₹ 35,552 ₹ 4,666 ₹ 37,328
    12 Oct 2021 ₹ 4,443 ₹ 35,544 ₹ 4,665 ₹ 37,320
    11 Oct 2021 ₹ 4,419 ₹ 35,352 ₹ 4,640 ₹ 37,120
    10 Oct 2021 ₹ 4,438 ₹ 35,504 ₹ 4,660 ₹ 37,280
    09 Oct 2021 ₹ 4,438 ₹ 35,504 ₹ 4,660 ₹ 37,280
    08 Oct 2021 ₹ 4,413 ₹ 35,304 ₹ 4,634 ₹ 37,072
    07 Oct 2021 ₹ 4,411 ₹ 35,288 ₹ 4,632 ₹ 37,056

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

    • 7 Days
    • 30 Days
    • 3 Months
    • 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.

    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.

    Trend of Gold Rate in Madurai for August 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    August 1 Rate Rs.4,775 per gram
    August 31 Rate Rs.4,689 per gram
    Highest Rate in August Rs.4,961 per gram on 2 August
    Lowest Rate in August Rs.4,592 per gram on 10 and 11 August
    Overall Performance Decline
    Percentage Change -1.80%

    Trend of Monthly Gold Rate in Madurai for August 2021:

    • In Madurai, the gold rate for the month of August opened at Rs.4,775 per gram. When compared to the closing rate of the previous month, there were no changes in the price of gold.
    • The highest price of the precious metal recorded during the month was Rs.4,961 per gram and was recorded on 2nd August 2021. The lowest recorded price was on 10th and 11th of August when a gram of the 24-karat gold was being sold for Rs.4,592 per gram. Gold closed the month standing at Rs.4,689 per gram.
    • The overall performance of the precious yellow metal witnessed a fall of -1.80% during the month in Madurai.

    Trend of Gold Rate in Madurai for July 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    July 1 Rate Rs.4,665 per gram
    July 31 Rate Rs.4,775 per gram
    Highest Rate in July Rs.4,955 per gram on 17 July
    Lowest Rate in July Rs.4,665 per gram on 1 July
    Overall Performance Incline
    Percentage Change 2.36%

    Trend of Monthly Gold Rate in Madurai for July 2021:

    • In Madurai, the gold rate for the month of July opened at Rs.4,665 per gram. When compared to the closing rate of the previous month, the price of gold witnessed a hike of Rs.34 per kg.
    • The highest price of the precious metal recorded during the month was Rs.4,955 per gram and was recorded on 17th July 2021. The lowest recorded price was on the 1st of July when a gram of the 24-karat gold was being sold for Rs.4,665 per gram. Gold closed the month standing at Rs.4,775 per gram.
    • The overall performance of the precious yellow metal witnessed an increase of 2.36% during the month in Madurai.

    Trend of Gold Rate in Madurai for June 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    June 1 Rate Rs.5,060 per gram
    June 30 Rate Rs.4,631 per gram
    Highest Rate in June Rs.5,079 per gram on 3 June
    Lowest Rate in June Rs.4,610 per gram on 21 June
    Overall Performance Decline
    Percentage Change -8.48%

    Trend of Monthly Gold Rate in Madurai for June 2021:

    • In Madurai, the gold rate for the month of June opened at Rs.5,060 per gram. There was an overall declining trend in the price of the precious metal over the month.
    • The highest price of the precious metal recorded during the month was Rs.5,079 per gram and was recorded on 3rd June 2021. The lowest recorded price was on 21st of June when a gram of the 24-karat gold was being sold for Rs.4,610 per gram. Gold closed the month standing at Rs.4,631 per gram.
    • The overall performance of the precious yellow metal witnessed a dip of –8.48% during the month in Madurai.

    Trend of Gold Rate in Madurai for May 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    May 1 Rate Rs.4,810 per gram
    May 31 Rate Rs.5,048 per gram
    Highest Rate in May Rs.5,070 per gram on 26 May
    Lowest Rate in May Rs.4,810 per gram on 1 and 3 May
    Overall Performance Incline
    Percentage Change 4.95%

    Trend of Monthly Gold Rate in Madurai for May 2021:

    • The gold rate in Madurai opened at the rate of Rs.4,810 per gram for the month of May 2021. The prices of the yellow metal fluctuated throughout the month.
    • The precious metal had recorded the lowest price during the month on 1 May 2021 and 3 May 2021 wherein it was being traded at the rate of Rs.4,810 per gram. The yellow metal closed the month standing at the rate of Rs.5,048 per gram. Gold recorded its highest on 26 May 2021 when it ended at Rs.5,070
    • There was an overall increase of 4.95% in the performance of gold during the month in Madurai.

    Trend of Gold Rate in Madurai for April 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    April 1 Rate Rs.4,610 per gram
    April 30 Rate Rs.4,599 per gram
    Highest Rate in April Rs.4,917 per gram on 22 April
    Lowest Rate in April Rs.4,599 per gram on 30 April
    Overall Performance Decline
    Percentage Change -0.23%

    Trend of Monthly Gold Rate in Madurai for April 2021:

    • In April, gold prices in Madurai opened at Rs.4,610 for a gram. However, by the end of the month, gold rates fell and closed at Rs.4,599 per gram.
    • Gold rates fell by 0.23% over the course of the month in Madurai.
    • The lowest and highest prices that the yellow metal hit for the month were on 30 April and 22 April and were at Rs.4,599 per gram and Rs.4,917 per gram, respectively.

    Trend of Gold Rate in Madurai for March 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    March 1 Rate Rs.4,725 per gram
    March 31 Rate Rs.4,572 per gram
    Highest Rate in March Rs.4,737 per gram on 2 March
    Lowest Rate in March Rs.4,559 per gram on 13 March
    Overall Performance Decline
    Percentage Change -3.23%

    Trend of Monthly Gold Rate in Madurai for March 2021:

    • Gold rates in Madurai for the month of March opened at Rs.4,725 per gram and closed at Rs.4,572 per gram, respectively.
    • Over the course of the month, the prices of the yellow metal fell by 3.23%.
    • The highest and lowest rates gold hit for the month were on 2 March and 13 March and were at Rs.4,737 for a gram and Rs.4,559 per gram, respectively.

    Trend of Gold Rate in Madurai for February 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    February 1 Rate Rs.5.084 per gram
    February 28 Rate Rs.4,758 per gram
    Highest Rate in February Rs.5,084 per gram on 1 February
    Lowest Rate in February Rs.4,735 per gram on 19 February
    Overall Performance Decline
    Percentage Change -6.41%

    Trend of Monthly Gold Rate in Madurai for February 2021:

    • Price of gold in Madurai for the month of February 2021, opened at the rate of Rs.5,084 per gram. It closed the month standing at the rate of Rs.4,758 per gram.
    • The highest price of the precious metal was recorded on 1 February 2021 wherein it stood at the rate of Rs.5,084 per gram. The lowest recorded price during the month was Rs.4,735 per gram for 24 karat gold. This was recorded on 19th of February 2021.
    • The overall performance of the yellow metal witnessed a decline of -6.41% during the month.

    Trend of Gold Rate in Madurai for January 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    January 1 Rate Rs.4,965 per gram
    January 31 Rate Rs.5,078 per gram
    Highest Rate in January Rs.5,329 per gram on 7 January
    Lowest Rate in January Rs.4,838 per gram on 17 January
    Overall Performance Incline
    Percentage Change 2.28%

    Trend of Monthly Gold Rate in Madurai for January 2021:

    • Gold rates in Madurai for the month of January 2021, opened at the rate of Rs.4,965 per gram. It closed the month standing at the rate of Rs.5,078 per gram.
    • The highest price of the precious metal was recorded on 7 January 2021 wherein it stood at the rate of Rs.5,329 per gram. The lowest recorded price during the month was Rs.4,838 per gram for 24 karat gold. This was recorded on the 17th of January 2021.
    • The overall performance of the yellow metal witnessed an incline of 2.28% during the month.

    Trend of Gold Rate in Madurai for December 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    December 1 Rate Rs.4,931 per gram
    December 31 Rate Rs.5,143 per gram
    Highest Rate in December Rs.5,212 per gram on 21 December
    Lowest Rate in December Rs.4,931 per gram on 1 December
    Overall Performance Incline
    Percentage Change 4.29%

    Trend of Monthly Gold Rate in Madurai for December 2020:

    • The prices of gold in Madurai opened and closed at Rs.4,931 per gram and Rs.5,212 per gram, respectively.
    • The lowest and highest rates that the yellow metal touched in the city were on 1 December and 21 December and were at Rs.4,931 per gram and Rs.5,212 per gram, respectively.
    • Gold rates fluctuated throughout the month in Madurai. Overall, gold prices increased by 4.29% over the course of the month in Madurai.

    Trend of Gold Rate in Madurai for November 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    November 1 Rate Rs.4,998 per gram
    November 30 Rate Rs.4,803 per gram
    Highest Rate in November Rs.5,128 per gram on 7, 8, and 9 November
    Lowest Rate in November Rs.4,803 per gram on 28,29, and 30 November
    Overall Performance Decline
    Percentage Change -3.90%

    Trend of Monthly Gold Rate in Madurai for November 2020:

    • Gold price in Madurai was priced Rs.4,998 per gram on 1st November. The price of the yellow metal didn’t see any change when the price was compared to the closing price of the previous month.
    • The price of the yellow metal remained stagnant for the next two days before fluctuating on 4th and 5th November. Gold rate shot up to its highest for the month till date on 7th November and was priced Rs.5,128 for every gram.
    • Over the next two weeks, the price of gold witnessed a lot of fluctuations in the city. Gold price dipped in Madurai from 24th November and closed at Rs.4,803 per gram, the lowest recorded price for the month. The overall performance witnessed a declining trend with the percentage change recorded in the rates standing at -3.90%.

    Trend of Gold Rate in Madurai for October 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    October 1 Rate  Rs.5,066 per gram
    October 31 Rate  Rs.4,998 per gram
    Highest Rate in October Rs.5,131 per gram on 12 October
    Lowest Rate in October Rs.4,904 per gram on 20 October
    Overall Performance  Decline
    Percentage Change -1.34%

    Trend of Gold Rate in Madurai for September 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    September 1 Rate Rs.5,221 per gram
    September 30 Rate Rs.5,354 per gram
    Highest Rate in September Rs.5,408 per gram on 21 September
    Lowest Rate in September Rs.5,019 per gram on 26 September
    Overall Performance Incline
    Percentage Change 2.55%

    Trend of Monthly Gold Rate in Madurai in September 2020:

    • In the month of September, gold rate in Madurai opened at the rate of Rs.5,221 per gram on 1 September. The price of gold fluctuated throughout the month.
    • The yellow metal recorded the highest price on 21 September 2020 wherein it was being traded at the rate of Rs.5,408 per gram. The lowest price was recorded at the rate of Rs.5,019 per gram on 26 September 2020.
    • The main reason behind the dip in the price of gold was the recovery in the value of U.S. Dollar.
    • Although the prices dipped to some extent, by the end of the month of September, the prices of the precious metal recovered marginally and closed at Rs.5,354 per gram on 31 September. The overall increase in its performance was 2.55%.

    Trend of Gold Rate in Madurai for August 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    August 1 Rate Rs.5,583 per gram
    August 31 Rate Rs.5,360 per gram
    Highest Rate in August Rs.5,914 per gram on 8 August
    Lowest Rate in August Rs.5,359 per gram on 30 August
    Overall Performance Decline
    Percentage Change -3.99%

    Trend of Monthly Gold Rate in Madurai for August 2020:

    • Gold stepped into August being priced at Rs.5,583 per gram. The rate in Madurai has reached its lowest on 30 August. On these days, the metal was sold at Rs.5,359 per gram.
    • The highest gold price in Madurai for August was Rs.5,914 per gram on 8 August.
    • After fluctuating throughout the month, the gold price settled at Rs.5,360 per gram on 31 August. The overall trend for the metal was a decline of 4.21%.

    Trend of Gold Rate in Madurai for July 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    July 1 Rate Rs.5,049 per gram
    July 31 Rate Rs.5,561 per gram
    Highest Rate in July Rs.5,561 per gram on 31 July
    Lowest Rate in July Rs.5,049 per gram on 1 July
    Overall Performance Incline
    Percentage Change 10.14%

    Trend of Monthly Gold Rate in Madurai for July 2020:

    • Gold prices in Madurai opened at Rs.5,049 per gram and closed at Rs.5,561 per gram, respectively. Overall, gold saw its prices increase by 10.14% over the course of the month.
    • The lowest rate that gold hit for the month was on 1 July and was Rs.5,049 per gram. Gold hit its highest rate on the last day of July and was at Rs.5,561 for a gram.
    • The main reasons for the increase in prices were the tensions between China and the US and the increase in the number of coronavirus cases.

    Trend of Gold Rate in Madurai for June 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    June 1 Rate Rs.4,917 per gram
    June 30 Rate Rs.5,067 per gram
    Highest Rate in June Rs.5,067 per gram on 30 June
    Lowest Rate in June Rs.4,837 per gram on 8 June
    Overall Performance Incline
    Percentage Change 3.05%

    Trend of Monthly Gold Rate in Madurai for June 2020:

    • The price of gold in Madurai opened at Rs.4,917 for a gram. After increasing slightly the next day, the price reduced by 3 June and was at Rs.4,878 per gram. Gold hit its lowest rate for the month on 8 June 2020 and was at Rs.4837 for a gram. The prices of the yellow metal decreased as investors moved towards riskier assets.
    • In the month of June, the prices of gold saw an overall incline of 3.05% in the city. The increase in the number of coronavirus cases all over the world and the expectations that the economy would take longer to recover were the main reasons for the prices to increase. Gold prices in Madurai closed the month at Rs.5,067 per gram, which was also the highest rate in June.

    Trend of Gold Rate in Madurai for May 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    May 1 Rate Rs.4,670 per gram
    May 31 Rate Rs.4,916 per gram
    Highest Rate in May Rs.4,916 per gram on 26, 27 and 31 May
    Lowest Rate in May Rs.4,621 per gram on 2 May
    Overall Performance Incline
    Percentage Change 5.26%

    Trend of Monthly Gold Rate in Madurai for May 2020:

    • Gold opened at the rate of Rs.4,670 per gram for 24 karats in the month of May in Madurai. This happened as the appeal for safe-haven investments went up due to the rising tensions between Washington and China and the threat of new trade tariffs being imposed on China by the US. However, as the week started advancing, the price of the yellow metal started witnessing a drop. It had hit the lowest price point during the month and stood at the rate of Rs.4,621 per gram on 2 May. This was in response to increase in risk appetite after the restrictions during the lockdown were relaxed due to the coronavirus pandemic. With economic activities struggling to get back to normal, the appeal of safe haven investments seemed to be dimming after a long gap.
    • The yellow metal continued to hold steady in the second week of May wherein it stood at the closing rate from the previous week. The economic condition of countries across the world continued to look very weak with the coronavirus pandemic spreading and infecting the masses around the world. The price of gold continued to remain steady due to much-anticipated release of the US jobs data report. Investors around the world continued to remain pessimistic around equities. Fears of the revival of the virus in a second wave of infections continued to dampen the risk appetite and increase the appeal of safe haven investments around the world.
    • The third week of May also saw the highest prices for gold at Rs.4,855 per gram on 18 and 19 May. This was in response to increasing tensions around USA and China. However, this was reduced soon enough with the risk appetite soaring once again on the back of successful trials of an early-stage coronavirus vaccine. However, the fears of a global recession and a strong US Dollar continued to keep the prices steady for the remnant of the week.
    • The last week of the month witnessed the prices going up and down again due to the various political and economic factors which played a direct role. Despite the uncertainty regarding the rise and drop in gold prices, the yellow metal touched its highest rate on 26, 27, and 31 May at Rs.4,916. The uncertainty in the price could be due to the response of the USA to China’s passing of a security law in Hong Kong which led to an escalation in prices of precious metals as more and more investors around the world spread across to safe haven investments fearing volatility in the stock markets. However, there was also corresponding fears around the economy not recovering as fast as it needed to in spite of lifting of lockdown restrictions, followed by the coronavirus continuing to rage unabated around the world. For the month of May, Madurai witnessed a change of 5.26% in the overall performance of the precious yellow metal.

    Trend of Gold Rate in Madurai for April 2020 (rates per gram of 24 karat gold)

    Parameters Gold Price (24 karat)
    April 1 Rate Rs.4,150 per gram
    April 30 Rate Rs.4,720 per gram
    Highest Rate in April Rs.4,720 per gram on 30 April 2020
    Lowest Rate in April Rs.4,150 per gram from 1 April to 5 April
    Overall Monthly Performance Incline
    Percentage Change 13.73%

    Trend of Monthly Gold Rate in Madurai for April 2020:

    • On 1 April 2020, the price of gold in Madurai was at Rs.4,150 per gram. From 1 April 2020 to 5 April 2020, the prices of gold remained the same. Gold prices hit its lowest rates for the month on these days as well. After increasing by Rs.6 on 6 April 2020, the price of gold saw a huge jump on 7 April 2020 and was at Rs.4,404 for a gram. The huge increase in the prices of the yellow metal was due to the coronavirus outbreak all over the world. The equities markets in Asia taking a hit also ensured that the prices increased. The prices of precious metals increased due to a weak dollar as several measures were introduced by the US Federal Reserve to help the economy because of the coronavirus outbreak. After hitting Rs.4,391 per gram on 10 April 2020, the prices of gold increased on 11 April 2020 and were at Rs.4,528 per gram.
    • From 12 April 2020 to 18 April 2020, the prices of gold fluctuated in Madurai. When compared to 11 April 2020, gold prices had fallen to Rs.4,451 for a gram by 14 April 2020. On 15 April 2020, the gold saw an increase in its rates and was at Rs.4,566 for a gram. Over the next two days, gold prices continued to increase and hit Rs.4,598 per gram. However, on 18 April 2020, the prices of gold dropped to Rs.4,430 per gram. The several measures introduced by Cental Banks and a strong dollar ensured that the prices of gold were kept in check. Gold prices were also supported as several investors considered it a safe haven.
    • From 19 April 2020 to 25 April 2020, gold rates remained unpredictable because of the coronavirus outbreak. A volatile stock market and the fears of a global recession ensured that the prices of gold remained high. However, after the US President announced that the markets would reopen, many investors shifted towards the equities market. This ensured that the prices of gold reduced. A strong dollar also ensured that the prices of gold remained stable and not see a huge jump.
    • In the last days of the month, gold prices increased substantially. By 27 April 2020, the gold had hit Rs.4,700 per gram. Several measures were introduced by Central Banks to help the economy ensured that the prices of gold increased. On 30 April 2020, the price of gold was at Rs.4,720 per gram. This was also the highest rate that gold hit for the month. Overall, gold prices in Madurai saw a 13.73% increase in its rates for the month.

    Trend of Gold Rate in Madurai for March 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    March 1 Rate Rs.4,185 per gram
    March 31 Rate Rs.4,150 per gram
    Highest Rate in March Rs.4,443 per gram on 6 March
    Lowest Rate in March Rs.4,026 per gram on 19 March
    Overall Performance Decline
    Percentage Change -0.83%

    Gold Rate Trend in Madurai for March 2020:

    • Gold price stood at Rs.4,185 per gram at the start of March in Madurai. There was no change in the prices when compared to the closing price of the previous month. With investors looking forward to the rate cut by the US Federal Reserve, the rates of gold climbed over the opening week and recorded its highest on 6th March with a gram costing Rs.4,443.
    • As major countries imposed a lockdown to contain the spread of the deadly virus, the rates of the yellow metal slipped in Madurai over the second week. A gram of the 24-karat gold was retailed for Rs.4,221 on 13th March.
    • The rates continued to slip in the city as investors sold off their assets to hoard cash. This resulted in gold recording its lowest price for the month on 19th March with a gram of the 24-karat gold being retailed for Rs.4,026.
    • Gold closed the month at Rs.4,150 per gram in Madurai. In the final week of the month, the rates slipped marginally on 23rd and 24th March before remaining steady until the end of the month. Gold’s overall performance in Madurai showed a decline of 0.83% in the prices.

    Trend of Gold Rate in Madurai for February 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    February 1 Rate Rs.4,077 per gram
    February 29 Rate Rs.4,185 per gram
    Highest Rate in February Rs.4,305 per gram on 24 February
    Lowest Rate in February Rs.4,030 per gram on 6 February
    Overall Performance Incline
    Percentage Change 2.6%

    Gold Rate Trend in Madurai for February 2020:

    • On 1 February 2020 in Madurai, the price of gold stood at Rs.4,077 per gram. This rate remained steady for three days. As China adopted measures to curtail the impact of the coronavirus on the economy, the risk appetite of investors stoked, and equities gained. These factors led to the fall in the price of gold to Rs.4,040 per gram. The precious metal had closed at Rs.4,093 per gram by 9 February.
    • As compared to the first week, the metal had opened at Rs.4,079 per gram. Investors were then driven to build their fort with this safe haven metal as a new set of numbers for the coronavirus cases had been released. This figure showed hopes of the epidemic slowing down. Eventually, the price of gold rose to Rs.4,082 per gram. By the end of the week, the price of gold stood at Rs.4,120 per gram on 16 February.
    • The metal crawled into the third week, suffering a dip to Rs.4,107 per gram. On 21 February, as the number of epidemic cases in South Korea increased, it added fuel to fire all across the economy. As a result, the price of gold climbed to Rs.4,213 per gram.
    • As the metal entered the last week of the month, it was priced at Rs.4,305 per gram. The rate had then fallen to Rs.4,264 per gram as trading session forced anxious investors to adhere to profit-taking. The metal closed at Rs.4,1per gram on 29 February. The overall trend of the yellow metal shows a 2.6% incline.

    Trend of Gold Rate in Madurai for January 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 31 Rate Rs.4,074 per gram
    Highest Rate in January Rs.4,125 per gram on 9 January
    Lowest Rate in January Rs.3,919 per gram on 2 January
    Overall Performance Incline
    Percentage Change 3.87%

    Gold Rate Trend in Madurai for January 2020:

    • On 1 January, the price of gold in Madurai was Rs.3,922 per gram and soon after, the metal hit its lowest price of the month at Rs.3,919 per gram on 2 January. However, the first week was beneficial for traders investing in gold as the escalating tensions in the Middle East prompted investors to shift to the bullion market due to its safe-haven appeal. The yellow metal hit its monthly high at Rs.4,125 per gram on 9 January.
    • As China and the United States of America finally signed the Phase-1 trade deal, risk appetite amongst investors increased considerably as the value of the dollar saw an incline in the global market. Due to this, gold prices took a hit and was Rs.3,952 per gram on 14 January and fluctuated through the second week of the month.
    • However, gold prices remained steady in the third week of the month as investors considered the effect of the deadly Coronavirus on the market. With a halt in trade in China and the country being subjected to quarantine, investors made no movement in their investments. The price of the metal fluctuated with minor inclines and declines. On 25 January, gold was priced at Rs.4,015 per gram.
    • In the last week of the month, the World Health Organisation announced a Global Health Emergency. This was in light of the increase in the number of cases and deaths around the world. The price of the metal increased as investors shifted to the bullion due to its safe-haven appeal. Gold closed the month at Rs.4,074 per gram with a percentage incline of 3.87.

    Find Today's Gold Price in Top Metro Cities

    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 About 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.
      • 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.

    Also Check Gold Price in NearBy Cities of Madurai

    Read more on Gold

    Gold Rate - Sitemap

    News About Gold Rate in Madurai

    • Gold Scales New Heights on Rate Cut Hopes

      Gold rates climbed on expectations of a U.S. interest rate reduction, with spot gold rising 0.4% to $1,335.05 per ounce. U.S. gold futures rose by 0.5% to 1,340.01 per ounce even as some investors locked in profits from the recent bullish run.

      The sudden shift in the U.S. Federal Reserve’s stance and its likely decision to cut interest rates is fuelling this spurt in bullion demand. Trade conflicts and their economic impact are being monitored by the Fed, which is seen by many as a potential precursor to a more bullion-supportive stance.

      6 June 2019

    • Gold Price Inclines as Dollar Dips on Prospects of US-China Trade Deal

      Gold prices inclined on Monday, after declining below the critical $1,300 level in the last session as the US dollar declined on the prospect of a US-China trade deal. Spot gold inclined by about 0.3% at $1,296.53 per ounce, after touching its lowest at $1,289.91 in more than a month, in the previous session. Gold declined by 2.6% last week on a steady dollar and global stock advances. Meanwhile, gold futures were down 0.2% at $1,297.10 an ounce. The dollar, which recovered from three-week lows in the last session, declined by about 0.1% against other performing currencies. US Stock futures inclined on Monday amid reports that the US and China were close to finalising the trade deal after a year of trade war between the two nations. Demand for the precious metal in India improved this week amid a decline in local prices, while some investors in other major Asian centers preferred to sell gold to take advantage of the relatively higher prices while delaying purchases amid expectations of a further correction.

      4 March 2019

    • Gold Price Inclines as Dollar Dips on Prospects of US-China Trade Deal

      Gold prices inclined on Monday, after declining below the critical $1,300 level in the last session as the US dollar declined on the prospect of a US-China trade deal. Spot gold inclined by about 0.3% at $1,296.53 per ounce, after touching its lowest at $1,289.91 in more than a month, in the previous session. Gold declined by 2.6% last week on a steady dollar and global stock advances. Meanwhile, gold futures were down 0.2% at $1,297.10 an ounce.

      The dollar, which recovered from three-week lows in the last session, declined by about 0.1% against other performing currencies. US Stock futures inclined on Monday amid reports that the US and China were close to finalising the trade deal after a year of trade war between the two nations. Demand for the precious metal in India improved this week amid a decline in local prices, while some investors in other major Asian centers preferred to sell gold to take advantage of the relatively higher prices while delaying purchases amid expectations of a further correction.

      4 March 2019

    • Trade Deal Hopes Spark Gold Price Rise

      The possibility of a resolution to the ongoing trade war between the U.S. and China has seen gold climb to its strongest position in over 1 weeks. Spot gold rose by 0.1% to trade at $1,322.72 per ounce. U.S. gold futures fared slightly better, rising by 0.5% to $1,326.1 per ounce. 

      The U.S. Dollar weakened as the risks associated with trade talks boosted investor confidence in equity markets. Progress in the discussions reduced interest in the dollar, which was the preferred safe-haven asset during the crisis. As a consequence, more investors are increasing their stakes in bullion, especially gold. 

      18 February 2019

    Gold Rate In Metro Cities
    Gold Rate In Other Capitals
    Gold Rate In Other Major Cities
    Gold Rate In States
    Bank Gold Schemes

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.