• Gold Rate in Madurai

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    10 Dec 2018 ₹ 3,012 ₹ 24,096 ₹ 3,163 ₹ 25,304
    09 Dec 2018 ₹ 3,010 ₹ 24,080 ₹ 3,161 ₹ 25,288
    08 Dec 2018 ₹ 3,010 ₹ 24,080 ₹ 3,161 ₹ 25,288
    07 Dec 2018 ₹ 2,960 ₹ 23,680 ₹ 3,108 ₹ 24,864
    06 Dec 2018 ₹ 2,949 ₹ 23,592 ₹ 3,096 ₹ 24,768
    05 Dec 2018 ₹ 2,954 ₹ 23,632 ₹ 3,102 ₹ 24,816
    04 Dec 2018 ₹ 2,951 ₹ 23,608 ₹ 3,099 ₹ 24,792
    03 Dec 2018 ₹ 2,915 ₹ 23,320 ₹ 3,061 ₹ 24,488
    02 Dec 2018 ₹ 2,905 ₹ 23,240 ₹ 3,050 ₹ 24,400
    01 Dec 2018 ₹ 2,900 ₹ 23,200 ₹ 3,045 ₹ 24,360

    *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 October 2018 (rates per gram)

    Parameters Gold price (24 carat)
    October 1 Rate Rs.3,071 per gram
    October 31 Rate Rs.3,188 per gram
    Highest Rate in October Rs.3,205 per gram on 27 October
    Lowest Rate in October Rs.3,071 per gram on 1 October
    Overall Monthly Performance Incline
    Percentage Change 3.81%

    Trend of Gold Rate in Madurai for September 2018 (rates per gram)

    Parameters Gold price (24 carat)
    September 1 Rate Rs.3,029 per gram
    September 30 Rate Rs.3,074 per gram
    Highest Rate in September Rs.3,091 per gram on 19 September
    Lowest Rate in September Rs.3,019 per gram on 3 September
    Overall Monthly Performance Incline
    Percentage Change 1.48%

    Trend of Gold Rate in Madurai for August 2018 (rates per gram)

    Parameters Gold price (24 karat)
    August 1 Rate Rs.2,983 per gram
    August 31 Rate Rs.3,036 per gram
    Highest Rate in August Rs.3,036 per gram on 31 August
    Lowest Rate in August Rs.2,940 per gram on 16 August
    Overall Monthly Performance Incline
    Percentage Change 1.77%

    August 2018 - Week 1 (1 - 5):

    • August 2018 began with steady industrial and investor demand for gold. This could be associated to the US Federal Reserve’s monetary policy meeting. The month began with gold in Madurai trading at Rs.2,983 per gram.
    • Gold rate in Madurai dropped to Rs.2,972 per gram on the 2nd before dipping further to Rs.2,956 per gram on 3 August as the US dollar strengthened.
    • With the US dollar increasing in value against several other emerging currencies ahead of the US Fed statement, demand for the metal dropped, which did not affect the price of the metal considerably during the week.
    • The week came to an end with the gold price in Madurai holding at Rs.2,973 per gram on 5 August as demand for the metal from local jewellers and industries remained steady. Weak overseas trends were also recorded during this time.

    August 2018 - Week 2 (6 - 12):

    • Trading commenced for the week with the gold rate in Madurai holding at Rs.2,968 per gram on the 6th amid poor global cues.
    • However, with the US employment data indicating a drop in the number of US jobs contributing to the nation’s economy, the dollar dropped during the week.
    • Positive market trends overseas coupled with steady investor demand led to gold in Madurai being priced at Rs.2,965 per gram the 9th of August.
    • Strong domestic demand coupled with favourable market cues globally led to the gold price in Madurai holding steady at Rs.2,967 per gram on 10 August.
    • However, on the last day of the week, the metal was priced at Rs.2,984 per gram on 12 August.

    August 2018 - Week 3 (13 - 19):

    • The week opened with the gold rate in Madurai standing at Rs.2,985 per gram on the 13th with domestic bullion markets capitalising on the previous week’s gains.
    • With the US greenback losing against other apex currencies, demand for the metal surged during the week.
    • This led to gold in Madurai being priced at Rs.2,968 per gram on the 14th before surging to Rs.2,977 per gram on the 15th amid the positive trend overseas.
    • However, with the US dollar regaining lost ground over the next few days, investor demand for the metal dropped significantly. This led to gold in Madurai being priced at Rs.2,946 per gram , one of the lowest prices recorded in the month on the 17th.
    • Poor trends overseas coupled with declining demand led to gold rate in Madurai finishing at Rs.2,952 per gram on the 19th.

    August 2018 - Week 4 (20 - 26):

    • The fourth week began with gold in Madurai priced relatively higher at Rs.2,962 per gram on the 20th as the US dollar stabilised as the tenson rose regarding trade war concerns.
    • Gold continued to trade at the same rate before surging to Rs.2,974 per gram on the 22nd amid the positive trend overseas.
    • With President Trump criticizing the US Federal Reserve decision to raise interest rates, the greenback tumbled. This led to investors banking on the bullion during the week.
    • The week ended with the gold rate in Madurai holding at Rs.3,004 per gram on the 26th with steady demand from market participants amid positive global cues.

    August 2018 - Week 4 (27 - 31):

    • When trading commenced for the last week, gold price in Madurai was recorded holding at Rs.2,999 per gram on the 27th with steady demand from local industries, jewellers and retailers amid the firm trend overseas.
    • With the US dollar losing considerably against a basket other major currencies, demand for the metal surged.
    • Gold in Madurai continued trading at Rs.2,999 per gram on the 28th which rose slightly the next day to Rs.3,012 per gram ahead of the US Federal Reserve chairman statement.
    • Trading closed for the month with the gold rate in Madurai holding slightly higher at Rs.3,036 per gram on the 31st with subdued but steady demand from domestic jewellers and retailers.
    • Madurai registered an incline of 1.77% in gold trade during the course of the month.

    Trend of Gold Rate in Madurai for July 2018 (rates per gram)

    Parameters Gold price (24 carat)
    July 1 Rate Rs.2,993 per gram
    July 31 Rate Rs.2,940 per gram
    Highest Rate in July Rs.3,014 per gram on 7 July and from 10 - 11 July
    Lowest Rate in July Rs.2,940 per gram on 19, 25, 28, and 31 July
    Overall Monthly Performance Decline
    Percentage Change -1.77%

    July 2018-  Week 1 (1-6)

    • Demand for gold in Madurai was on the increase in the first week as turbulent markets as well as a fluctuating dollar led to increased interest in bullion.
    • Gold opened the month at Rs.3,059 per gram before a slight dip in demand led to prices falling to Rs.3,040 per gram on 3 July.
    • The rise of tensions between the United States and China over trade tariffs led to the dollar falling sharply, as investors looked to gold to recover losses.
    • Gold rose to Rs.3,067 per gram on 5 July on increased industrial offtake, as well as strong overseas trends.
    • The end of the week saw gold continue to rise, closing at Rs.3,071 per gram on 6 July.

    July 2018- Week 2 (7-13)

    • The second week saw prices remain more or less constant on declining retail demand as the falling rupee made gold imports more expensive.
    • The yellow metal traded at Rs.3,070 per gram on 7 July as domestic and international demand was stable, with the dollar also recovering.
    • Prices remained stable for a few days as the rupee fell heavily against the dollar, resulting in possible gains being capped.
    • The rise of the dollar and strong equity markets led to demand for gold falling, as the metal traded at Rs.3,054 per gram on 11 July.
    • The drop in price continued for the rest of the week as gold ended the week priced at Rs.3,028 per gram on 13 July.

    July 2018- Week 3 (13-20)

    • As trade tensions fears eased, there was a drop in interest in gold among investors and industrial units alike.
    • Gold rates in Madurai opened at Rs.3,028 per gram on 13 July as retail demand dropped, the falling rupee making it more expensive for customers to buy gold.
    • Industrial demand was also falling steadily as the week progressed, with the metal’s price falling to Rs.3,021 per gram on 17 July.
    • A sharp drop in price was recorded on 18 July, when gold plunged to Rs.2,991 per gram on persistently low demand across domestic and international sectors.
    • Prices rose marginally at the end of the week, trading at Rs.2,997 per gram on 20 July.

    July 2018- Weeks 4 and 5 (21-31)

    • The last two weeks saw fluctuating fortunes for gold, with the metal opening the week at a stable Rs.3,018 per gram.
    • The rupee rose marginally against the dollar, which boosted sales of the precious metal briefly.
    • The steady drop in retail demand and fewer orders from jewellers led to gold falling to Rs.2,997 per gram on 24 July.
    • In spite of political tensions in the U.S. affecting stock markets, the dollar continued to trade strongly, as gold prices fell to Rs.2,990 per gram on 27 July.
    • Gold rallied towards the end of the month but prices failed to recover from their slump, with the metal priced at Rs.2,986 per gram on 31 July.

    Trend of Gold Rate in Madurai for June 2018 (rates per gram)

    Parameters Gold price (24 karat)
    June 1 Rate Rs.3,100 per gram
    June 30 Rate Rs.3,054 per gram
    Highest Rate in June Rs.3,119 per gram on 9 and 10 June
    Lowest Rate in June Rs.3,054 per gram on 29 and 30 June
    Overall Monthly Performance Decline
    Percentage Change 1.48%

    June 2018 - Week 1 (1 - 10):

    • Trading opened for the month with gold rate in Madurai holding at Rs.3,100 per gram on the 1st with the domestic market capitalising on the previous month’s gains.
    • With the US dollar index gaining against other apex currencies following strong US employment data, demand for the metal dropped over the next few days.
    • On the 3rd, gold in Madurai was recorded trading at Rs.3,089 per gram which plummeted to Rs.3,081 per gram on the 4th amid the weak trend overseas.
    • Demand, however, picked up towards the end of the week with market participants speculating over disagreements between the G7 summit participating nations.
    • Gold price in Madurai was recorded holding at Rs.3,088 per gram on the 6th before surging to Rs.3,103 per gram over the next two days amid the positive market trend overseas.
    • The dollar value dropped further during the week with the US President targeting other heads of the participating nations at the G7 summit for false trade practices.
    • The 9th saw gold price in Madurai surging to a monthly high of Rs.3,119 per gram owing to strong investor demand amid the firm trend overseas.
    • The week came to an end with gold prices holding steady at Rs.3,119 per gram on the 10th with steady demand from local industries, jewellers and retailers.

    June 2018 - Week 2 (11 - 17):

    • When trading began for the second week, gold in Madurai was priced at Rs.3,105 per gram on the 11th as rates stabilised amid the recovering US dollar.
    • Strong dollar performances coupled with well-performing equity markets led to gold rate in Madurai dropping to Rs.3,101 per gram on the 13th.
    • However, an increase in retail demand from domestic markets led to prices rebounding to Rs.3,110 per gram on the 14th.
    • With the greenback dominating against other apex currencies, investor demand dropped considerably over the next few days and gold in Madurai was recorded trading at Rs.3,095 per gram during the closing hours of the week.

    June 2018 - Week 3 (18 - 24):

    • Gold price in Madurai was recorded holding relatively lower at Rs.3,087 per gram on the 18th when the week began amid the strengthening greenback and rising equity markets.
    • Rates rose to Rs.3,098 per gram on the 19th before plunging to Rs.3,060 per gram on the 22nd as investor demand plummeted with the US dollar index touching near eleven-month highs at the international level.
    • The week came to an end with gold in Madurai priced at Rs.3,069 per gram on the 24th with domestic market participants capitalising on the weakening US dollar overseas.

    June 2018 - Week 4 (25 - 30):

    • The final week began with gold price in Madurai holding at Rs.3,070 per gram on the 25th with local demand suppressed by the strong US dollar index and well-performing equity markets.
    • With investors speculating ahead of the US Federal Reserve’s monetary policy, the US dollar strengthened further during the week.
    • This led to a significant drop in global demand and gold in Madurai was recorded trading at Rs.3,061 per gram on the 27th.
    • Gold rate in Madurai dropped to a monthly low of Rs.3,054 per gram on the 29th with the greenback capitalising on its previous rally of gains, capping global demand for the precious metal.
    • Trading concluded for the month with gold in Madurai closing at Rs.3,059 per gram on the 30th amid the uneven trend overseas.
    • Madurai recorded a decline of 1.48% in bullion trade during the course of the month.

    Trend of Gold Rate in Madurai for May 2018 (rates per gram)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.3,114 per gram
    May 31 Rate Rs.3,122 per gram
    Highest Rate in May Rs.3,213 per gram on 15 May
    Lowest Rate in May Rs.3,103 per gram on 3 May
    Overall Monthly Performance Incline
    Percentage Change 0.25%

    May 2018 - Week 1 (1st - 6th)

    • Trading opened for the month in Madurai with gold prices holding at Rs.3,114 per gram on the 1st of May with steady demand amid the weakened US dollar.
    • With market participants speculating ahead of the US Federal Reserve monetary policy meeting, the US dollar recovered, pushing gold rates to near four-month lows in the international trade.
    • The 3rd saw gold price in Madurai plummeting to Rs.3,103 per gram - the lowest recorded monthly figure - as domestic demand subsided amid the weak global cues.
    • The dollar, however, lost ground over the next few days as the US Fed Reserve decided to leave its benchmark interest rates unaltered against expectations. This led to rates rebounding towards the end of the week.
    • Trading concluded for the week with the yellow metal priced at Rs.3,136 per gram on the 6th with steady demand from local jewellers, retailer and industries amid the firm trend overseas.

    May 2018 - Week 2 (7th - 13th )

    • The week opened with gold trading at Rs.3,136 per gram on the 7th with domestic markets following the positive trend overseas.
    • Gold price in Madurai plunged to Rs.3,133 per gram on the 8th before rising to Rs.3,134 per gram on the 8th as demand stabilised amid the steady dollar performance.
    • The 10th saw gold rate in Madurai surging to Rs.3,142 per gram as the greenback weakened following the weaker-than-expected inflation data, pushing demand higher for the precious metal.
    • Strong global cues coupled with an increased investor demand led to gold rates rising to Rs.3,166 per gram on the 12th.
    • Thanks to steady demand from local industries, jewellers and retailers, prices remained untouched at Rs.3,166 per gram for the rest of the week.

    May 2018 - Week 3 (14th - 20th)

    • When trading commenced for the third week, the yellow metal prices were recorded holding at Rs.3,147 per gram on the 14th with the US dollar index gaining against a basket of other emerging currencies.
    • However, with market participants speculating ahead of the Federal Reserve meeting, the dollar weakened. This led to an increase in demand for safe-haven assets and gold was recorded trading at Rs.3,213 per gram on the 15th.
    • The next couple of days saw gold prices plunging with demand dropping significantly as the US dollar hovered near its highest level during the year. The precious metal was recorded trading at Rs.3,120 per gram and Rs.3,105 per gram on the 16th and the 17th respectively.
    • Prices remained untouched at Rs.3,105 per gram on the 18th before rising to Rs.3,124 per gram on the 19th on account of strong safe-haven demand brought about by rising political uncertainties in the US and the European continent.

    May 2018 - Week 4 (21st - 27th)

    • The fourth week saw gold rates improving before weak global cues coupled with declining investor demand led to prices dropping as the week progressed.
    • Gold was priced at Rs.3,113 per gram on the 21st when the week began amid poor market trends.
    • Rates remained untouched at Rs.3,113 per gram the next days before picking up to Rs.3,125 per gram on the 23rd with local demand improving despite the poor global cues.
    • With the US dollar losing against other apex currencies after the US Federal Reserve meeting concluded, gold price in Madurai surged to Rs.3,137 per gram on the 24th.
    • The greenback lost further with no US interest rates hikes on the horizon and gold was priced at Rs.3,146 per gram on the 25th.
    • The week came to an end with the bullion prices holding steady at Rs.3,133 per gram on the 27th as demand stabilised amid the recovering dollar and equities.

    May 2018 - Week 5 (28th - 31st)

    • The last week began with the bullion trade opening at Rs.3,106 per gram on the 28th as the dollar capitalised on its gains from the previous session, pushing demand lower for the metal.
    • However, an increase in demand from jewellers and retailers in the domestic markets over the next couple of days led to gold being priced at Rs.3,122 per gram on the 30th.
    • Trading concluded for the month with gold prices in Madurai holding at Rs.3,122 per gram on the 31st, registering an increase of 0.25% in bullion trade during the course of the month.

    Trend of Gold Rate in Madurai for April 2018 (rates per gram for 24 karat gold)

    Parameters Gold Price(24 karat)
    Gold Rate on 1st April 2018 Rs.3,072 per gram
    Gold Rate on 30th April 2018 Rs.3,123 per gram
    Highest Rate in April Rs.3,153 per gram on 19 April
    Lowest Rate in April Rs.3,064 per gram on 6 April
    Overall Monthly Performance Incline
    Percentage Change 1.66%

    April 2018 - Week 1 (1st - 7th):

    • The week saw gold prices in Madurai initially rising before dropping amid the strengthening greenback and equities.
    • Gold was recorded trading at Rs.3,072 per gram on the 1st with steady demand from local industries, jewellers and retailers coupled with positive international market trends.
    • Gold rate in Madurai surged to Rs.3,091 per gram on the 3rd with markets mulling over a possible trade war scenario between the US and China.
    • Despite the inconsistency in global prices, domestic demand held its ground and the precious metal was priced at 3,066 per gram on the 5th.
    • The week came to an end with gold demand on the rise amid the weakening US dollar, and gold was priced at Rs.3,075 per gram on the 7th.

    April 2018 - Week 2 (8th - 15th):

    • The week saw gold price in Madurai rising considerably with safe-haven demand improving amid the rising geopolitical tensions.
    • The week opened with the precious metal priced at Rs.3,075 per gram on the 8th with equities and stocks performing well amid the recovering US dollar index.
    • Safe-haven demand for the metal rose over the next few days with investors gravitating towards the bullion amid speculations over a possible missile strike by the US attack on Syria.
    • An increase in industrial orders from Asia led to gold prices in Madurai rising to Rs.3,129 per gram on the 12th.
    • The 13th saw gold rate in Madurai dropping to Rs.3,106 per gram with trade war fears easing down.
    • However, demand for the metal surged as market participants started banking on the bullion following the US-led airstrikes on Syria.
    • The week concluded with gold priced at Rs.3,142 per gram on the 15th with steady investor demand brought about by positive global cues.

    April 2018- Week 3 (16th - 22nd):

    • The week commenced with the yellow metal prices relatively lower at Rs.3,124 per gram on the 16th with equity markets performing well amid the strong dollar index.
    • The next couple of days saw demand picking up as the US dollar lost against a basket of other emerging currencies and gold was priced at Rs.3,153 per gram on the 19th.
    • Prices fluctuated during the week with market participants speculating ahead of the US Federal Reserve’s monetary policy meeting and industrial production reports.
    • Gold rate in Madurai dropped to Rs.3,146 per gram on the 20th with demand suppressed by the poor market trends overseas.
    • The week came to an end with gold prices in Madurai holding at Rs.3,151 per gram on the 22nd with steady domestic demand from jewellers, retailers and industries.

    April 2018- Week 4 (23rd - 30th):

    • The final week saw demand for gold declining with equity markets on the rise following the high US Treasury yields.
    • Gold was recorded trading at Rs.3,140 per gram on the 23rd when the week began with reduced domestic demand for the metal.
    • Gold rate in Madurai rose to Rs.3,144 per gram on the 26th before plunging to Rs.3,129 per gram the next day with stocks and equities rising amid the possibility of North Korea’s decision to denuclearise their weapons.
    • Trading concluded for the month with the precious metal trading at Rs.3,123 per gram on the 30th, recording an incline of 1.66% in gold trade during the course of the month.

    Trend of Gold Rate in Madurai for March 2018 (rates per gram for 24 karat gold)

    Parameters Gold Price(24 karat)
    Gold Rate on 1st March 2018 Rs.3,043 per gram
    Gold Rate on 31st March 2018 Rs.3,072 per gram
    Highest Rate in March Rs.3,105 per gram on 24 and 25 March
    Lowest Rate in March Rs.3,030 per gram on 19 March
    Overall Monthly Performance Incline
    Percentage Change 0.95%

    March 2018 - Week 1 (1st - 4th)

    • Gold rates in Madurai rose considerably with strong demand from local jewellers and retailers amid positive global cues during the week.
    • Trading began with the yellow metal priced at Rs.3,043 per gram on the 1st amid firm overseas trends.
    • The 2nd saw gold prices rising to Rs.3,049 per gram which surged further to Rs.3,068 per gram on the 3rd with an incline in demand with domestic markets tracking a positive trend overseas.
    • Thanks to steady demand from industries, retailers and jewellers, the bullion continued to trade at Rs.3,068 per kg for the remainder of the week.

    March 2018 - Week 2 (5th - 11th)

    • The week began with gold trading at Rs.3,054 per gram on the 5th amid firm market trends.
    • Strong demand coupled with positive global cues led to gold prices surging to Rs.3,064 per gram on the 6th.
    • With market participants speculating over a possible trade between China and the US, gold rates in Madurai surged to Rs.3,074 per gram the next day.
    • However, with the demand dropping at the domestic level, gold prices dropped to Rs.3,061 per gram on the 8th before plummeting to Rs.3,047 per gram on the 9th.
    • The 10th witnessed rates rebounding to Rs.3,067 per gram as the US dollar index lost against a basket of other currencies ahead of the US employment data.

    March 2018 - Week 3 (12th - 18th)

    • Trading commenced for the week with the bullion opening at Rs.3,057 per gram on the 12th before plunging to Rs.3,047 per gram the following day amid the strengthening US dollar.
    • Market uncertainties brought about by the abrupt firing of Rex Tillerson, the US Secretary of State, led to gold rates surging to Rs.3,062 per gram on the 14th.
    • However, strong returns on stocks the following day resulted a decline in investor demand for the precious metal and gold was priced at Rs.3,056 per gram on the 15th.
    • The week came to an end with the bullion prices holding at Rs.3,040 per gram on the last day with poor demand from local jewellers, retailers and industries.

    March 2018 - Week 4 (19th - 25th)

    • When the week began, gold prices in Madurai were recorded holding at Rs.3,030 per gram - the lowest monthly figure - on the 19th.
    • However, with the bullion capitalising on the losing dollar and equities amid the US-China trade talks, demand for the metal surged over the next couple of days.
    • Strong global cues coupled with steady domestic demand resulted in gold prices rising to Rs.3,067 per gram on the 22nd, which surged further to Rs.3,081 per gram amid positive market trends at the domestic level.
    • The last two days saw gold rates holding steady at Rs.3,105 per gram - the highest recorded monthly figure - on account of the strong trends overseas that pushed demand higher for the metal.

    March 2018 - Week 5 (26th - 31st)

    • The final week opened in the city with gold trading at Rs.3,095 per gram on the 26th before stabilising at Rs.3,098 per gram the next day amid the weakened US dollar.
    • However, with the US dollar regaining lost ground from its previous rally of losses, gold rates plunged to Rs.3,084 per gram on the 28th.
    • The 30th saw gold prices plunging to Rs.3,066 per gram before rebounding to Rs.3,077 per gram on the 31st as safe-haven demand for the metal rose amid the ongoing US-Chinese talks.
    • Thanks to the strong overseas trends towards the end of the month, gold trade in Madurai recorded an incline of 0.95% profit during the month.

    Trend of Gold Rate in Madurai for February 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st February 2018 Rs.3,040 per gram
    Gold Rate on 28th February 2018 Rs.3,046 per gram
    Highest Rate in February Rs.3,103 per gram on 14 February
    Lowest Rate in February Rs.3,003 per gram on 8 February
    Overall Monthly Performance Incline
    Percentage Change 0.19%

    February 2018 - Week 1 (1 to 4):

    • The month began in Madurai with gold prices holding at Rs.3,040 per gram on the 1st after the US dollar remained flat following the Federal Reserve’s decision to leave its interest rate untouched during the monetary policy meeting.
    • The 2nd saw the yellow metal prices rising to Rs.3,071 per gram owing to an incline in demand after the US dollar weakened ahead of the US employment data.
    • However, with the US greenback gaining against a basket of other emerging currencies after the release of the stronger-than-expected US payrolls data, gold rates dropped to Rs.3,050 per gram on the 3rd.
    • Steady demand coupled with firm trend overseas resulted in the gold price in Madurai remaining untouched at Rs.3,050 per gram for the remainder of the week.

    February 2018 - Week 2 (5 to 11):

    • Trading commenced for the second week with the precious metal priced at Rs.3,035 per gram on the 5th after the strengthened US dollar resulted in a decline in domestic demand.
    • Gold rate in Madurai surged to Rs.3,071 per gram on the 6th after a huge equity and stocks sell-off in the global trade led to an increased demand for the safe-haven asset.
    • The 7th saw prices plummeting to Rs.3,031 per gram due to poor domestic demand from local industries, retailers and jewellers brought about by the recovering US dollar.
    • With the US dollar index gaining against other emerging currencies amid expectations on a possible US interest rate hike by the central bank, gold rates in Madurai plunged to Rs.3,003 per gram on the 8th.
    • Thanks to an incline in demand from jewellers and retailers, prices rose to Rs.3,018 per gram on the 9th before surging further to Rs.3,023 per gram on the 10th.
    • The week concluded with the gold price in Madurai holding steady at Rs.3,023 per gram on the 11th with steady demand amid the positive trend overseas.

    February 2018 - Week 3 (12 to 18):

    • The week opened in Madurai with the precious metal priced slightly higher at Rs.3,025 per gram on the 12th after investors and traders remained cautious ahead of the US inflation data during the week.
    • The US dollar weakened with markets eyeing on the inflation data for clues on the pace of the Fed rate hikes. This led to gold price in Madurai rising to Rs.3,030 per gram on the 13th.
    • Strong global cues coupled with an incline in domestic demand from jewellers, retailers and industries led to gold being priced at Rs.3,103 per gram on the 14th.
    • The 15th, however, saw gold rates plunging to Rs.3,071 per gram with the US dollar recovering from the previous day’s loss amid firmer equities.
    • With the US dollar touching record lows following the release of a weaker-than-expected inflation data, the gold rate in Madurai rose to Rs.3,074 per gram on the 16th before surging to Rs.3,096 per kg on the 17th.
    • The week came to an end with the precious metal trading firm at Rs.3,096 per gram on the 18th after investors gravitated towards the safe-haven metal to hedge against the inflation concerns.

    February 2018 - Week 4 (19 to 25):

    • Trading opened with the bullion prices holding at Rs.3,083 per gram on the 19th with the US dollar index regaining lost ground in the international markets.
    • The strengthening US dollar coupled with firmer equity markets led to gold rates plunging to Rs.3,068 per gram on the 20th.
    • Poor trends overseas coupled with reduced domestic demand over the next couple of days led to gold being priced at Rs.3,057 per gram and Rs.3,054 per gram on the 21st and the 22nd.
    • However, the 23rd witnessed a slight incline in demand from local jewellers and retailers amid a positive trend overseas and gold price in Madurai rose to Rs.3,060 per gram.
    • Gold rate in Madurai surged further to Rs.3,067 per gram on the 24th owing to an incline in domestic demand amid positive global cues.

    February 2018 - Week 5 (26 to 28):

    • The last week commenced in Madurai with the gold rate in Madurai holding at Rs.3,069 per gram on the 26th with the bullion recovering from the loss it suffered the previous week.
    • With the US dollar losing ahead of the new Federal Reserve chairman Jerome Powell’s first statement, gold was priced at Rs.3,069 per gram on the 27th.
    • When trading concluded for the month, the yellow metal was recorded trading relatively lower at Rs.3,046 per gram on the last day amid weak global cues.
    • Gold price in Madurai rose by 0.19% during the course of the month.

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    Trend of Gold Rate in Madurai for January 2017 (rate per gram)

    Parameters Gold price (per 24kt)
    Gold Rate on 1st January 2018 Rs.3,002 per gram
    Gold Rate on 31st January 2018 Rs.3,045 per gram
    Highest Rate in January Rs.3,084 per gram on 20 and 21 January
    Lowest Rate in January Rs.3,001 per gram on 4 January
    Overall Monthly Performance Incline
    Percentage Change 1.43%

    January 2018 - Week 1 (1 to 7):

    • When the month began in Madurai, the yellow metal was recorded trading at Rs.3,009 per gram on the 1st.
    • Prices remained unaltered at Rs.3,009 per gram the next day with steady demand from local jewellers, retailers and industries amid positive overseas trends.
    • Gold price in Madurai rose to Rs.3,014 per gram on the 3rd before plunging to Rs.3,000 per gram on the 4th following the release of the higher anticipated US employment data.
    • The US job data, however, proved to be weaker than expected and pushed the US dollar lower in the global market. This led to gold rates rebounding to Rs.3,015 per gram on the 5th.
    • With the US dollar index losing a basket of other emerging currencies, gold rates surged further to Rs.3,021 per gram the following day.
    • Strong global cues coupled with steady domestic demand resulted in gold prices remaining unchanged at Rs.3,021 per gram for the rest of the week.

    January 2018 - Week 2 (8 to 14):

    • The second week commenced with the bullion priced at Rs.3,015 per gram on the 8th after a rise in the US dollar value led resulted in a reduced demand for the metal.
    • Gold rates in Madurai rebounded to Rs.3,021 per gram the next day before plummeting to Rs.3,009 per gram on the 10th with the US regaining lost ground in the world markets.
    • With the US dollar losing significantly and gold rates hitting record highs over the next few day, demand for the metal surged.
    • On the 11th, the yellow metal was recorded trading at Rs.3,030 per gram amid the positive overseas trends.
    • The precious metal was priced at Rs.3,045 per gram on the 12th which rose further to Rs.3,048 per gram the following day.
    • As the week came to an end, an increase in domestic demand from local jewellers, retailers and industries amid strong global cues resulted in gold being priced at Rs.3,068 per gram on the 14th.

    January 2018 - Week 3 (15 - 21):

    • Gold opened at Rs.3,073 per gram when the third week of January began in Madurai/
    • An increased demand from local circles led to a rise in gold prices and the metal traded at Rs.3,082 per gram on the second day of this week.
    • The 17th saw gold prices decline to Rs.3,079 per gram as the US dollar regained some lost ground against a host of other apex currencies.
    • On the 18th, gold prices dropped again to Rs.3,060 as US treasury yields increased.
    • The 19th, however, saw gold rates rise to Rs.3,076 per gram as the US government was head towards a shut down, causing gold demand to increase.
    • Gold was trading at Rs.3,084 per gram on the 20th as demand surged as the dollar tanked. With demand remaining steady gold rates continued at Rs.3,084 per gram.

    January 2018 - Week 4 (22 - 28):

    • On the 22nd of the month, gold was priced at Rs.3,022 per gram.
    • The 23rd saw gold open at Rs.3,030 per gram and close at Rs.3,026 per gram as demand remained mostly on the flatter side.
    • Significant increases in gold prices in Madurai were witnessed from the 24th onwards, as the US dollar hit new lows while gold hit 16-month high figures.
    • On the 25th, the yellow metal opened at Rs.3,072 per gram as demand from jewellers in and around the city surged.
    • During the last day of this week, i.e., the 28th gold was seen trading at Rs.3,068 per gram.

    January 2018 - Week 5 (29 - 31):

    • Gold prices in Madurai fluctuated slightly during the final three days of the week due to declining demand.
    • On the final day of the month, gold traded at Rs.3,045 per gram.
    • Overall, gold price trends had seen a 1.43% incline, thanks to a slightly improved demand.

    Trend of Gold Rate in Madurai for December 2017 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st December 2017 Rs.2,982 per gram
    Gold Rate on 31st December 2017 Rs.3,015 per gram
    Highest Rate in December Rs.3,015 per gram on 30 and 31 December
    Lowest Rate in December Rs.2,903 per gram on 13 December
    Overall Monthly Performance Incline
    Percentage Change 1.10%

    December 2017 - Week 1 (1st to 10th)

    • Trading opened in Madurai with the bullion priced at Rs.2,982 per gram on the 1st against the strong US dollar rates compounded by positive US economic growth reports.
    • The next couple of days saw gold rates rising to Rs.3,002 per gram with the dollar weakening after the US tax reform bill was stalled by the US Senate.
    • The dollar, however, recovered with the tax reform plan being cleared by the Senate setting aside differences in the legislation. This resulted in gold prices declining to Rs.2,971 per gram on the 4th amid the strong US dollar index.
    • Gold rate in Maduari plunged further to Rs.2,962 per gram on the 6th with investors refraining from making purchases ahead of the Federal Reserve’s monetary policy meeting to raise its benchmark interest rates.
    • Gold price in Maduari continued to decline to Rs.2,942 per gram on the 7th before dropping further to Rs.2,917 per gram on the 8th against a strengthened dollar coupled with the well-performing equity markets.
    • However, towards the end of the week, gold rates recovered to Rs.2,927 per gram on the 9th with local jewellers and retailers ramping up purchases to meet the domestic demand amid the ongoing wedding season.
    • The week ended with the precious metal holding steady at Rs.2,927 per gram on the 10th.

    December 2017 - Week 2 (11th to 17th)

    • The second week commenced with gold priced relatively lower at Rs.2,911 per gram on the 11th with local demand plummeting despite the positive trends from the previous week.
    • Gold rate in Maduari were recorded at Rs.2,908 per gram on the 12th which plunged further to Rs.2,903 per gram the next day with the US dollar strengthening overseas.
    • However, the new Fed rate hike resulted in the US dollar and equities collapsing in the global trade. This led to an increase in global demand for the yellow metal and gold was priced at Rs.2,924 per gram on the 14th.
    • But demand for the metal subsided over the next few days and led to prices falling to Rs.2,917 per gram on the 16th.
    • On the 17th, prices rebounded to Rs.2,927 per gram with global demand picking up amid a weak US dollar performance.

    December 2017 - Week 3 (18th to 24th)

    • The week began with the yellow metal trading at Rs.2,923 per gram on the 18th.
    • Gold rates in Madurai rose o Rs.2,928 per gram on the 19th with the dollar declining after investors speculated over the ultimate outcome of the US tax reform bill on the country’s economic growth.
    • Strong trends overseas led to gold price in Maduari recording at Rs.2,931 per gram on the 20th.
    • The new tax cuts by the Fed Reserve led to Asian stocks collapsing. This led to investors gravitating towards safe-haven assets such as gold and the precious metal was priced at Rs.2,933 per gram on the 21st before rising to Rs.2,935 per gram on the 22nd.
    • The 23rd witnessed gold rates surging to Rs.2,956 per gram following a positive trend in local demand from domestic jewellers, retailers and industries.
    • Steady local demand amid the positive overseas trends led to gold prices holding steady at Rs.2,956 per gram on the 24th.

    December 2017 - Week 4 (25th to 31st)

    • The final week opened with gold trading at Rs.2,947 per gram on the 25th with local demand declining from the previous week.
    • However, with the dollar losing against other major emerging currencies prices rebounded to Rs.2,956 per gram on the 26th.
    • The US dollar continued to lose its sheen amid the strong trends overseas which pushed demand higher for the metal. This led to gold rate in Maduari rising to Rs.2,974 per gram on the 27th before surging further to Rs.2,985 per gram on the 28th.
    • Strong trends overseas coupled with increased domestic demand led to gold prices hitting Rs.3,015 per gram on the 30th. Reports stated that “today’s gold rate” rose as a result of the geopolitical concerns coupled with the inflation issues prevailing in the United States.
    • When the month concluded, the bullion prices were holding steady at Rs.3,015 per gram on the 31st with Madurai registering an incline of 1.10% in gold trade during the course of the month.

    Trend of Gold Rate in Madurai for November 2017 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold rate on 1st November 2017 Rs.2,988 per gram
    Gold rate on 30th November 2017 Rs.2,992 per gram
    Highest Rate in November Rs.3,030 per gram on 18 and 19 November
    Lowest Rate in November Rs.2,974 per gram on 6 November
    Overall Monthly Performance Incline
    Percentage Change 0.13%
    Parameters Gold price (24 karat)
    Gold Rate on 1st October 2017 Rs.3,040 per gram
    Gold Rate on 31st October 2017 Rs.2,997 per gram
    Highest Rate in September 2017 Rs.3,059 per gram on 15 to 15 October
    Lowest Rate in September 2017 Rs.2,997 per gram on 6, 27, 30, and 31 October
    Overall Monthly Performance Decline
    Percentage Change -1.41%

    October 2017 - Week 1 (1st to 8th):

    • The week started off with the precious metal trading at Rs.3,040 per gram with steady demand from the previous month.
    • However, the next few days saw gold price in Madurai gradually dropping on account of a strong dollar index amid the possibility of an interest rate hike by the US Federal Reserve. The yellow metal was recorded trading at Rs.3,010 per gram on the 3rd.
    • Prices plunged to Rs.3,009 per gram on the 4th which dropping further to Rs.3,005 per gram on the 5th due to subdued global demand amid firm equities market and strong dollar rates.
    • The 6th witnessed gold rate in Madurai hitting its lowest monthly figure at Rs.2,997 per gram as bullion demand remained weak despite the strong geopolitical concerns.
    • However, domestic demand revived towards the end of the week after the government mandated KYC (know your customer) norms in the country. This led to the yellow metal prices rising to Rs.3,017 per gram on the 7th and the 8th.

    October 2017 - Week 2 (9th to 15th):

    • The second week saw gold rate in Madurai being greatly influenced by the firm trend overseas, and also with the arrival of the festive season.
    • When trading commenced for the week, the yellow metal was recorded trading at Rs.3,027 per gram on the 9th.
    • The government’s decision to make KYC norms mandatory seemed to boost buyer sentiments. This led to the precious metal prices rising to Rs.3,041 per gram on the 12th.
    • With the focus of the markets shifted from the geopolitical crisis to the release of the US economic data, gold rates plunged to Rs.3,031 per gram on the 13th amid a strong US greenback.
    • Thanks to the largely positive global cues and increased demand from local jewellers and retailer, the bullion prices surged to Rs.3,059 per gram - the highest recorded monthly figure - on the 14th. The increase in local purchases was solely due to the arrival of the festive season.
    • Steady domestic demand resulted in gold price in Madurai remaining unchanged at Rs.3,059 per gram for the remainder of the week.

    October 2017 - Week 3 (16th to 22nd):

    • Gold prices in Madurai initially declined before stabilising halfway into the third week. When the week commenced, the yellow metal was recorded trading at Rs.3,048 per gram on the 16th.
    • Rates plunged over the next few days owing to a weak overseas trend amid the strengthening dollar. This led to prices dropping to Rs.3,023 per gram and Rs.3,021 per gram on the 17th and the 18th. Another reason for the decline in gold price in Madurai was the poor domestic trade on the auspicious Dhanteras.
    • However, local demand surged with the precious metal scaling higher due to the ongoing festive season coupled with strong global trends. This led to gold rates surging to Rs.3,026 per gram on the 20th.
    • The rest of the week saw the yellow metal trading firm at Rs.3,027 per gram owing to the nuclear prowess of North Korea that stumbled the US economy.

    October 2017 - Week 4 & Week 5 (23rd to 31st):

    • The final week began with the precious metal trading lower at Rs.3,006 per gram on the 23rd with the dollar strengthening against other apex currencies.
    • The dollar, however, slipped the next day and the yellow metal was recorded trading at Rs.3,009 per gram.
    • However, prices plunged over the next few days as investors suspended gold purchases amid the possibility of an interest rate hike by the US Federal Reserve. This led to rates dropping to Rs.3,000 per gram on the 26th.
    • The 27th witnessed gold rate in Madurai decline further to Rs.2,997 per gram - the lowest recorded monthly figure - on account of subdued demand from local jewellers, industries and retailers amid strong equity markets.
    • Though gold price in Madurai recovered to Rs.3,006 per gram on 28th and the 29th due to an increased buying by local jewellers amid positive global leads, the yellow metal plunged again to Rs.2,997 per gram on the 30th as the markets remained cautious ahead of major central banks’ policy meetings.
    • The month ended with the precious metal trading at Rs.2,997 per gram registering a decline of 1.41% in bullion prices.
    Parameters Gold price (per 1 kg)
    Gold rate on 1st September Rs.2,995 per gram
    Gold rate on 30th September Rs.3,040 per gram
    Highest Rate in September Rs.3,102 per gram on 8 September
    Lowest Rate in September Rs.2,832 per gram on 29 September
    Overall Monthly Performance Incline
    Percentage Change 1.50%

    September 2017 - Week 1 (1st - 10th)

    • When trading began in Madurai for the month, gold was priced at Rs.2,995 per gram.
    • Gold rates in Madurai went up slightly to Rs.2,997 per gram on the 2nd and remained unchanged on the 3rd due to weak demand from local circles.
    • But, the 4th saw gold rates jump significantly to Rs.3,081 per gram as the US markets crashed after North Korea’s latest nuclear test.
    • Due to demand falling, gold prices went down to Rs.3,068 per gram on the 5th.
    • Gold prices in Madurai went up to Rs.3,087 per gram on the 6th, thanks to renewed interests from local investors.
    • When North Korea officially confirmed its nuclear weapon-related speculations - gold rates surged globally,
    • On the 8th, gold prices in Madurai reached a month high figure of Rs.3,102 per gram as safe-haven purchasing saw a significant rise.
    • The US dollar inched towards recovery, which led to gold trading at Rs.3,095 per gram over the last two days of this week.

    September 2017 - Week 2 (11 - 17):

    • Gold opened at Rs.3,074 per gram after having dipped by Rs.21 per gram compared to the previous day.
    • This fall in prices was due to the US dollar’s strong performance and the subsequent improvement in the US economy.
    • Gold rates in Madurai fluctuated for much of this week as local demand took a hit.
    • Gold prices in Madurai went down to Rs.3,051 per gram on the 12th before increasing to Rs.3,068 per gram on the 13th.
    • On the 14th, gold prices in Madurai went down to Rs.3,051 per gram because demand in the global market went down.
    • The yellow metal’s rates recovered slightly to end the week at Rs.3,061 per gram on the 17th.

    September 2017 - Week 3 (18th - 24th)

    • When the third week began, gold prices in Madurai had fallen considerably.
    • On the 18th, the precious was trading at Rs.3,035 per gram in local exchanges in the city.
    • A strong greenback performance pushed gold rates in Madurai down to Rs.3,030 per gram on the 19th of September.
    • Some early purchasing cues due to the imminent festive season saw gold rates go up to Rs.3,045 per gram on the 20th.
    • The 21st saw gold rates fall to Rs.3,026 per gram due to uneven demand from the surrounding circles.
    • Gold rates in Madurai improved slightly to trade at Rs.3,030 per gram on the 22nd and the two other remaining days of the week.

    September 2017 - Week 3 (25 - 30):

    • This week saw gold prices in Madurai scale new heights, thanks to increased buying brought about by the festive season.
    • On the 25th, when the week began, gold was priced at Rs.3,030 per gram in the local trade exchange.
    • But, a significant rise in purchases saw gold rates rocket to Rs.3,072 per gram on the 26th.
    • Demand dipped quite a but on the 27th but gold prices still remained at a relative high of Rs.3,051 per gram.
    • The next two days saw gold trade in the sub-Rs.3,020-per-gram range as demand eased down.
    • The month came to and end with the yellow metal being traded at Rs.3,040 per gram.
    • All in all, there was a 1.50% rise in prices this month, all thanks to a weak dollar performance in the initial few days of the month.
    Parameters Gold price (24 karat)
    Gold Rate on 1st August Rs.2,926 per gram
    Gold Rate on 31st August Rs.2,971 per gram
    Highest Rate in August Rs.2,999 per gram on 29 August
    Lowest Rate in August Rs.2,900 per gram on 5 and 6 August
    Overall Monthly Performance Incline
    Percentage Change 1.87%

    August 2017 - Week 1 (1st - 6th)

    • In Madurai, gold prices started off at Rs.2,926 per gram for the month of August.
    • But, prices declined during this week as demand from buyers in Madurai was at a considerable low.
    • Gold rate in Madurai went down to Rs.2,917 per gram on the 2nd and slumped again to Rs.2,899 per gram on the 3rd.
    • However, a significant rise in demand from jewellers led to gold prices rising to Rs.2,920 per gram on the 4th.
    • Gold price in Maduari went down to Rs.2,900 per gram on the 5th and remained unchanged on the 6th, when the week ended.

    August 2017 - Week 2 (7th - 13th)

    • Trading improved this week because of a number of local and international factors.
    • When the week started on the 7th, gold was priced at Rs.2,901 per gram, which rose to Rs.2,906 per gram the next day as demand surged.
    • Gold rate in Maduari increased for the third day in a row to trade at Rs.2,917 per gram on the 9th.
    • Gold trading rates jumped significantly on the 10th as it went up to Rs.2,947 per gram because of the latest US-North Korea conflict.
    • WIth investors queuing up to purchase gold, rates went up further to Rs.2,977 per gram on the 11th.
    • The final two days of the week saw gold price in Maduari remain at Rs.2,977 per gram as demand remained steady.

    August 2017 - Week 3 (14th - 20th)

    • Gold prices in Maduari fell consistently this week as the US dollar strengthened, which led to a drop in bullion demand.
    • On the 14th and 15th of August, gold was seen trading at Rs.2,962 per gram but dipped to Rs.2,940 per gram on the 16th as investors backed out.
    • Gold rate in Maduari increased slightly to reach Rs.2,969 per gram as jewellers again contributed to bring demand up.
    • However, this demand from jewellers was short lived, which led to gold rates falling again - to Rs.2,942 per gram - on the 18th.
    • The 19th and 20th saw demand stabilise and trade at Rs.2,950 per gram, thanks to a steady flow of purchases.

    August 2017 - Week 4 (21st - 27th)

    • As the US dollar had to sustain yet another slump, gold rates in Madurai rose slightly this week.
    • On the 21st, gold was priced at Rs.2,950 per gram, which then went up to Rs.2,965 per gram on the 22nd.
    • There was a very slight drop in demand, which was evident as gold traded at Rs.2,963 per gram on the 23rd, before rising to Rs.2,965 per gram on the 24th.
    • Due to demand remaining stable, gold prices held on at Rs.2,967 per gram from the 25th to the 27th of the month.

    August 2017 - Week 5 (28th - 31st)

    • When final week of August commenced, gold prices had fallen to Rs.2,942 per gram, courtesy of overnight trading cues.
    • Rates surged significantly to Rs.2,999 per gram on the 29th - as demand from the jewellers’ section led to increased purchases.
    • As this demand wasn’t sustainable, gold rates fell to Rs.2,973 per gram on the 30th before remaining unchanged on the last day of the month.
    • A weak dollar and a strong domestic trading trend saw gold prices go up by 1.87% for the month.

    July ‘17- Week 1 (1st to 9th)

    • Gold prices in the city of Madurai were on the decline in the first week of July due to conflicting cues from the markets, with the yellow metal trading at Rs.2,950 per gram on 1 July.
    • Prices dropped to Rs.2,935 per gram on 3 July due to a drop in demand from overseas markets as well as local jewellers.
    • A rise in the U.S. dollar rate led to a further plunge in the price of gold, which dropped to Rs.2,900 per gram on 5 July.
    • Escalating tensions with North Korea affected U.S. markets but this was not reflected in the price of gold, which continued to drop.
    • The week ended with gold priced at Rs.2,875 per gram on 9 July due to persistently poor demand.

    July ‘17- Week 2 (10th to 16th)

    • The decline in price continued as the second week began, with gold trading at Rs.2,831 per gram on 10 July.
    • Prices fell to Rs.2,796 per gram on 11 July before recovering to trade at Rs.2,813 per gram on 12 July.
    • A drop in local demand due to sluggish sales following GST contributed to prices falling in Madurai, where gold traded at Rs.2,803 per gram on 14 July.
    • Prices began to rise as the week drew to a close as overseas demand, especially from China increased.
    • The week ended with the precious metal trading at Rs.2,818 per gram on 16 July.

    July ‘17- Week 3 (17th to 23rd)

    • The third week saw a rise in demand due to favourable market conditions, as gold was priced at Rs.2,822 per gram on 17 July.
    • Increased demand from the overseas manufacturing and industrial sectors led to prices reaching Rs.2,845 per gram on 19 July.
    • Local demand also rose as jewellers took advantage of lower import rates and increased orders to take gold prices to Rs.2,869 per gram on 20 July.
    • Prices continued to climb as the dollar fell due to the escalating tensions between the United States and North Korea.
    • Gold was priced at Rs.2,917 per gram on 23 July as higher demand from both Asia as well as local markets boosted prices.

    July ‘17- Week 4 (24th to 31st)

    • The last week of July saw gold open at Rs.2,918 per gram on 24 July as U.S. markets were still unsteady due to the accusations of collusion with Russia in the presidential election.
    • Gold was priced at Rs.2,897 per gram on 26 July due to a minor dip in demand, but prices soon rose to Rs.2,920 per gram on 27 July.
    • As local stock markets were weak, there was an increase in demand from local consumers, which led to prices rising to Rs.2,926 per gram on 29 July.
    • There was a minor drop in price as the month ended, with gold trading at Rs.2,925 per gram on 31 July.
    • In spite of a recovery towards the end of the month, there was a 0.84% drop in the gold price.
    Parameters Gold price (24 karat)
    June 1 Rate Rs.2,977 per gram
    June 30 Rate Rs.2,962 per gram
    Highest Rate in June Rs.3,030 per gram on 7 June
    Lowest Rate in June Rs.2,942 per gram on 20 June
    Overall Monthly Performance Decline
    Percentage Change -0.50%

    June ‘17- Week 1 (1 to 4)

    • Gold price in Madurai reflected trends seen in other major Indian cities, with the price fluctuating in the first week of June due to demand vagaries.
    • The yellow metal traded at Rs.2,977 per gram on 1 June before falling to Rs.2,965 per gram on 2 June due to a dip in demand.
    • Gold price in Madurai rose as the week continued, with gold trading at Rs.2,998 per gram due to an increase in regional demand.
    • In spite of a stable U.S. dollar which resulted in a reduction in exports, there was an increase in the price of gold as local jewellers boosted demand.

    June ‘17- Week 2 (5 to 11)

    • Prices were on the increase due to a sudden dip in the value of the U.S. dollar, coupled with a poor run by the markets.
    • Gold price in Maduari was at Rs.3,006 per gram on 5 June as industrial demand rose on the back of positive cues.
    • Prices continued to climb with gold trading at Rs.3,030 per gram on 7 June, the highest rate for the month due to consistent demand from overseas as well as local markets.
    • Minor fluctuations in the price were observed as the week ended, with gold prices dropping to Rs.2,987 per gram on 9 June before closing the week at Rs.2,981 per gram on 11 June.

    June ‘17- Week 3 (12 to 18)

    • There was a decline in the price of gold as demand began to wane following a recovery by the U.S. dollar as well as a general drop in demand for the yellow metal.
    • Gold was priced at Rs.2,983 per gram on 12 June but quickly dropped to Rs.2,967 per gram on 13 June due to a steep fall in demand from the Asian economies.
    • Local demand was also poor as jewellers weighed the merits of advance orders before the implementation of the new tax regime.
    • Gold prices slid further during the week, trading at Rs.2,951 per gram on 17 June as oil prices helped strengthen the U.S. dollar and led to demand from industry stagnating.
    • The week ended with gold trading at Rs.2,955 per gram on 18 June as a combination of factors led to demand dropping.

    June ‘17- Week 4 (19 to 25)

    • The fourth week opened with gold priced at Rs.2,949 per gram on 19 June as international demand continued to be low due to bullish stock markets.
    • Gold price in Maduari fell to Rs.2,942 per gram on 20 June, their lowest price for the month due to consistently low demand from the industrial sector as well as jewellers.
    • A slight recovery in demand led to a marginal increase in the price of gold, which traded at Rs.2,958 per gram on 22 June following increased demand from Asian markets.
    • Prices climbed as the week ended, with gold trading at Rs.2,964 per gram on 24 & 25 June on the back of increased demand from the local jewellery sector.

    June ‘17- Week 5 (26 to 30)

    • As markets were uncertain due to the upcoming GST tax regime launch, there was a revival of interest in gold among retailers and investors alike, which led to an increase in price.
    • Gold traded at Rs.2,977 per gram on 26 June, bolstered by higher demand from jewellers who were looking at stocking up on inventory before GST.
    • Retail demand also rose, though this was a marginal increase and did not affect prices as much.
    • While local demand was strong, international markets were high, which led to a reduction in demand for the precious metal, thus keeping prices low.
    • Gold traded at Rs.2,957 per gram on 27 June and fluctuated in the last few days of the month before closing at Rs.2,962 per gram on 30 June.
    • In spite of an increase in demand towards the end of the month, gold prices declined overall, resulting in a loss of value of 0.50% over the course of the month.
    May 1st Rate Rs.2,984 per gram
    May 31st Rate Rs.2,968 per gram
    Highest Rate in May Rs.2,984 per gram on the 1st May
    Lowest Rate in May Rs.2,888 per gram on 15th May
    Overall Performance Decline
    Percentage Change -0.70%
    Comparison for 24 K Gold Rates for Madurai May'17

    May 2017 - Week 1 (1st-7th):

    • As Madurai Isn't known for gold consumption, gold prices saw a decline in May 2017.
    • The month began with gold priced at Rs.2,984 per gram - which also happened to be the highest gold rate for the entire month.
    • From then on, prices seemed to ride the sine wave as demand was a little too flimsy.
    • The 2nd gold prices fell and traded at Rs.2,952 per gram.
    • On 4th, gold prices fell down to Rs.2,922 per gram.
    • It was all downhill the next two days as well as prices went to Rs.2,908 per gram on the 5th and then to Rs.2,899 per gram on the 6th.
    • On the last day of the week i.e., the 7th gold prices stabilised as demand picked up lightly.

    May 2017 - Week 2 (8th - 14th):

    • When the second week began on 8th, gold rates had appraised to Rs.2,896 per gram as there was a slight increase in demand towards the weekend.
    • Gold prices lightly picked up on the 9th and traded at Rs.2,904 per gram.
    • Gold prices went down on the 11th to Rs.2,889 per gram as there was little to no demand for the precious metal in the local circles.
    • However, there was just a teeny bit of increase in demand on the 12th as it went up to Rs.2,892 per gram.
    • After that minor increase broke the fall, gold rates went up again on the 13th, albeit by Re.1, to reach Rs.2,891 per gram.
    • As a fall in the US dollar saw prices increase everywhere, prices surged slightly in the local markets on the 14th.
    • When the second week of May drew to a close, gold prices were still holding at Rs.2,891 per gram.

    May 2017 - Week 3 (15th - 21st):

    • Like in the previous week, gold prices opened on a negative note as prices had gone down to Rs.2,888 per gram.
    • On the 16th, however, gold prices surged to Rs.2,894 per gram and then to Rs.2,910 per gram on 17th as demand in the city went for the first time in half a month.
    • The 18th again saw gold prices surge, but this time by a rather significant margin as they increased and traded at Rs.2,958 per gram.
    • A sudden increase on the 18th was followed by a drop on the 19th as gold prices went down to Rs.2,954 per gram.
    • Prices went up again on the 19th as there was some increase in local demand to reach Rs.2,954 per gram and remained unchanged on the 21st as well.

    May 2017 - Week 4 (22nd - 28th):

    • Gold traded at Rs.2,956 per gram on the 22nd of May.
    • As demand from domestic markets poured in, gold picked up on the 23rd and traded at Rs.2,971 per gram.
    • As the demand couldn’t be sustained on the 24th, prices went down to Rs.2,956 per gram and remained at the same rate on the 25th.
    • As gold performed well in the bullion market, gold prices rose on the 26th and traded at Rs.2,969 per gram .
    • Gold prices rose further and traded at Rs.2,979 per gram on the 27th of May.
    • When the week came to an end, price of gold was holding at Rs.2,979 per gram.

    May 2017 - Week 5 (29th - 31st):

    • Gold rates fluctuated over the last three days of the month.
    • On 29th, when trading began, gold was priced at Rs.2,977 per gram.
    • Rates dropped on the last day of the week to Rs.2,968 per gram as demand in the local market wasn’t strong enough.
    • In Madurai, gold closed at Rs.2,968 per gram on the 31st of May.
    April 1st Rate Rs.2,956 per gram
    April 30th Rate Rs.2,984 per gram
    Highest Rate in April Rs.3,040 per gram on 15th & 16th April
    Lowest Rate in April Rs.2,954 per gram on 8th & 9th April
    Overall Performance Incline
    Percentage Change 0.94%

    April ’17 – Week 1 (1st to 9th)

    • Gold prices in Madurai in the first week of April were initially stable but rose as the week progressed due to an increase in demand.
    • Gold traded at Rs.2,956 per gram on 1st April, with the price remaining constant till 3rd April due to steady demand.
    • Prices rose to Rs.2,987 per gram on 4th April as markets opened lower than expected, leading investors to safe haven assets like gold which pushed the price higher.
    • Fluctuations in demand led to a marginal dip in price as the U.S. Dollar fell due to geo-political tensions.
    • The price stabilised as the week ended, with gold trading at Rs.2,954 per gram on 9th April.

    April ’17 – Week 2 (10th to 16th)

    • The second week saw an increase in the price of gold as U.S. markets fell on global cues, with the U.S. Dollar also falling.
    • Gold traded at Rs.2,956 per gram on 10th April, but rose to Rs.3,001 per gram on 12th April as industrial demand picked up due to a low U.S. Dollar.
    • Prices continued to climb, with gold trading at Rs.3,028 per gram on 14th April as export demand also increased, with high demand volumes from Asia fuelling an increase in gold prices.
    • The week ended with gold trading at a monthly high of Rs.2,040 per gram on 16th April as markets continued to perform poorly and industrial demand surged.

    April ’17 – Week 3 (17th to 23rd)

    • Gold opened the week trading at Rs.3,033 per gram on 17th April as demand from industry was steady.
    • Prices dipped marginally due to a recovery by the markets, which led to reduced interest in gold.
    • Gold traded at Rs.3,018 per gram on 20th April as Eurozone markets also rose, bolstered by positive trends.
    • Prices rose marginally as the week ended due to a surge in local demand, in contrast to trends seen elsewhere, with gold trading at Rs.3,035 per gram on 23rd April.

    April ’17 – Week 4 (24th to 30th)

    • The last week of April saw prices fall significantly due to a decline in demand across sectors as markets recovered and global currencies were also trading at a stable level.
    • Gold traded at Rs.2,998 per gram on 24th April, marking a steep fall from the previous week due to a sharp drop in industrial demand.
    • The auspicious Akshaya Tritiya holiday also did not see much in the way of gold purchases, which led to a further drop in prices domestically, with gold trading at Rs.2,962 per gram on 27th April.
    • A slight increase in price was observed as the month drew to a close courtesy a slight increase in industrial demand from overseas, which boosted gold prices.
    • The month ended with gold trading at Rs.2,984 per gram on 30th April, registering an overall increase in price of 0.94% during the month of April.
    March 1st Rate Rs.2,994 per gram
    March 31st Rate Rs.2,942 per gram
    Highest Rate in March Rs.2,994 per gram on 1st March
    Lowest Rate in March Rs.2,906 per gram on 15th of March
    Overall Performance Decline
    Percentage Change 1.73%

    March ‘17 - Week 1 (1st to 5th)

    • Price of gold in the city of Madurai was not as high as expected, compared to the rates noted in other Indian cities. Gold traded at Rs.2,994 per gram on the first of March before decreasing by Rs.2 the next day.
    • Rate of gold seen on the first day of the month was also the highest rate at which gold traded for the month of March in Madurai.
    • Price of gold reduced on Rs.2,961 per gram on the 3rd of March due to low demand for this precious metal from jewellers.
    • As the week progressed, the price of gold continued to fluctuate and traded at Rs.2,972 per gram on the final two days of the week.

    March ‘17 - Week 2 (6th to 12th)

    • Price of gold on the first day of the second week of March was lower than that of the previous week.
    • Due to an increase in the value of the U.S. Dollar, rate of gold plunged to a weekly low of Rs.2,944 per gram on the 7th of March and continued to fall the next day as well to trade at Rs.2,931 per gram.
    • On the 8th of March, there was a marginal improvement in the price of gold with the precious metal trading at Rs.2,951 per gram on the 9th of March. This rise was very temporary however and gold rate fell to Rs.2,931 per gram again on the 10th of March.
    • Price of gold varied towards the end of the week to trade at Rs.2,945 per gram on the 11th and continuing at the same price the next day as well.

    March ’17- Week 3 (13th to 19th)

    • Price of gold during the third week of March was marginally lower than that of the previous week. On the 13th, gold traded at Rs.2,947 per gram.
    • This rate could not be maintained however and the price of gold fell to Rs.2,929 per gram on the 14th of March before plunging to a monthly low of Rs.2,906 per gram.
    • There was a slight improvement noted in the rate of gold as the week progressed.
    • Rate of gold varied between Rs.2,931 and Rs.2,940 per gram between the 16th and 18th of March.
    • On the final day of the third week of March, the rate of gold was Rs.2,940 per gram on account of low but steady demand for gold.

    March ’17- Weeks 4 (20th to 26th)

    • Gold traded at Rs.2,941 per gram on the first day of the fourth week of March. There were a number of fluctuations noted in the rate of gold as the week progressed.
    • An increased demand for gold from international markets and positive market cues world over resulted in the rate of gold increasing to Rs.2,977 on the 22nd of March but reduced marginally the next day.
    • However, this demand could not be sustained and the rate of gold steadily reduced thereafter.
    • On the final day of the week, the rate of gold was Rs.2964 per gram.

    March ’17- Weeks 5 (27th to 31st)

    • The price of gold was steady at Rs.2,979 per gram on the 27th of March due to increased demand for this precious metal from jewellers as well as markets in both India and abroad.
    • However, this demand could not be sustained and fell to Rs.2,974 per gram on the 28th and 29th of March.
    • As the week continued, the rate of gold continued to decline.
    • A monthly decline of 1.73% was noted in the rate of gold during the month of March.
    February 1st Rate Rs.2,957 per gram
    February 28th Rate Rs.3,001 per gram
    Highest Rate in February Rs.3,014 per gram on 25th & 26th February
    Lowest Rate in February Rs.2,940 on 3rd February
    Overall Performance Incline
    Percentage Change +1.49%

    February ‘17 - Week 1 (1st to 5th)

    • Gold rates in Madurai fell in the first week of February due to a dip in domestic demand and fluctuating markets.
    • This precious metal was priced at Rs.2,957 per gram on 1st February, with the rate falling to a monthly low of Rs.2,940 per gram on 3rd February due to a fall in demand domestically.
    • Rates rose slightly to trade at Rs.2,944 per gram on 4th February as overseas demand helped raise prices.
    • During the end of the week, gold traded at Rs.2,944 per gram on 5th February, recording a decrease in price of Rs.13 per gram.

    February ‘17 - Week 2 (6th to 12th)

    • Gold rate Madurai in the second week of February increased as demand rose due to fluctuations in U.S. Dollar rates.
    • Gold traded at Rs.2,954 per gram on 6th February, with the price increasing to Rs.2,978 per gram on 7th February due to increased demand from investors.
    • Prices continued to rise, trading at Rs.2,989 per gram on 8th February on sustained demand. However, this demand was not steady and prices dipped slightly after.
    • Gold was priced at Rs.2,984 per gram before declining to Rs.2,946 per gram on 10th February.
    • Gold rate increased slightly as the week ended, trading at Rs.2,964 per gram on 12th February.

    February ’17- Week 3 (13th to 19th)

    • Due to a number of variations in demand, rate of gold was not stable, with gold trading at Rs.2,959 per gram on 13th February.
    • Prices fell to Rs.1,947 per gram on 15th February as markets rose due positive trends.
    • Rate of gold in Madurai increased sharply to trade at Rs.2,980 per gram on 16th February due to a decline in U.S. Dollar rates. There was also a low prospect of U.S. Fed Rate hike.
    • Gold traded at Rs.2,990 per gram on 17th February before falling slightly as the week came to an end.
    • Gold traded at Rs.2,980 per gram on 19th February.

    February ’17- Weeks 4 & 5 (20th to 28th)

    • The price of gold in Madurai increased steadily in the last two weeks of February due to a sharp increase in demand for this precious metal in both domestic and international markets, with a few fluctuations here and there.
    • Gold traded at Rs.2,976 per gram on 20th February, with the price falling to Rs.2,967 per gram on 21st February due to a dip in industrial demand.
    • Prices increased to Rs.2,973 per gram on 23rd February, increasing further to Rs.3,000 per gram on 24th February due to higher trading in gold futures.
    • Prices reached a monthly high of Rs.3,014 per gram on 25th February as demand for gold increased.
    • Prices stabilised as the month ended, with gold trading at Rs.3,001 per gram on 28th February to record a monthly increase of 1.49%.
    January 1st Rate Rs.2,821 per gram
    January 31st Rate Rs.2,942 per gram
    Highest Rate in January Rs.2,974 per gram on 24th January
    Lowest Rate in January Rs.2,821 per gram on 1st January
    Overall Performance Incline
    Percentage Change 4.28%

    January 2017 - Week 1 (1st - 7th):

    • On January 1st, gold was trading at Rs.2,821 per gram but increased by Rs.7 to reach Rs.2,828 per gram on 2nd.
    • Prices increased to Rs.2,857 per gram on 4th - a surge of Rs.29 - as demand seemed to soar.
    • When week 1 ended on 7th, gold prices were holding Rs.2,872 per gram - a Rs.3 increase from the previous day.

    January 2017 - Week 2 (8th-14th):

    • On 8th, gold prices remained the same as on 7th at Rs.2,872 per gram.
    • The 8th saw prices increase by Rs.6 to bring gold prices up to to Rs.2,878 per gram.
    • Rates went up again on the 12th as well - by Rs.21 - to bring price up to Rs.2,935 per gram.
    • Despite a dip on 13th, gold rates gained to end week 2 at Rs.2,941 per gram.

    January 2017 - Week 3 (15th - 21st):

    • When 15th began gold was still trading at Rs.2,941 per gram.
    • The 15th saw gold prices increase slightly to Rs.2,955 per gram before increasing again on 16th to reach Rs.2,969 per gram.
    • On 19th, prices fell significantly by Rs.20 to bring gold rates down to Rs.2,951 per gram.
    • When week 3 ended, gold prices had gained to end the 21st at Rs.2,962 per gram.

    January 2017 - Week 4 and 5(22nd - 31st):

    • The last two week of January saw prices increase steadily owing to high demand for the yellow metal.
    • On 23rd gold was trading at Rs.2,970 per gram and increased again on the 24th to reach the highest rate for the month at Rs.2,974 per gram.
    • From 25th to 27th, prices fell considerably as they first went down to Rs. Rs.2,951 per gram and ended up at Rs.2,911 per gram on 27th.
    • The month ended with gold trading at Rs.2,942 per gram
    • January saw gold prices increase by 4.28% compared to that of the previous month.

    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.

    Also Check Gold Price in NearBy Cities of Madurai

    Gold Rate In Salem Gold Rate In Trichy Gold Rate In Erode
    Gold Rate In Tirunelveli Gold Rate In Vellore Gold Rate In Tuticorin
    Gold Rate In Thanjavur Gold Rate In Dindigul Gold Rate In Karur
    Gold Rate In Hosur Gold Rate In Nagercoil Gold Rate In Chennai
    Gold Rate In Coimbatore
    Also Know: Silver Rate in Madurai

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