We crafted the whole article with a thought to give a clear insight on Gold Rate in Madurai Today. We have also used an updated version of the Gold Rate in Madurai chart.
Gold holds a special value among the customers. Now the price of the metal actually varies that too depending on several factors.
This chart and other information of the article will be your handy guide to let you stay informed regarding the 22-carat gold, 916 hallmarks, and other information. So Find Gold Rate in Madurai Live here in this content.
22 Carat Gold Rate in Madurai – Gold Price in Madurai Today
Also, Check out the Silver Rate in Madurai Today
In this section, we have conscripted the whole details pertaining to the 22 Carat Gold Rate in Madurai. For your knowledge, this category of gold is considered the basic one for crafting gold jewelry.
In this section, we have also uploaded all the actual statistics regarding the gold price in Madurai today. Also, we updated the rate pertaining to yesterday and the major variation in the gold price.
On top of that, we also stated the change in price percentage of the gold in regards to its performance.
24 Carat Gold Rate in Madurai Today – Gold Price in Madurai
Pure 24-Carat Gold Rate in Madurai is presented in a tabular format. We have majorly concentrated on informing the customers regarding the pure gold price in Madurai.
The gold price of yesterday and change in the price along with the percentage in change is elaborately mentioned in the above table.
Check out some amazing Gold Calculators
|Madurai Gold Investment Calculator||Gold Rate Calculator of Madurai|
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Gold Price in Madurai for Last 15 Days
Buyers often pay heed to the past price fluctuation of the gold, in order to make an affordable and profitable buy.
Have a look at the table to understand that the 15 days gold price in Madurai data. Now this will help you infer the change in the gold price at once.
Find Gold Rates of other Indian Cities & States
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Graph of Gold Rate Today in Madurai – Also Past Gold Price in Madurai
Take a quick look into the graphical presentation of the price change in the Gold Rate in Madurai. We supported the statement with proper numerical figures and statistics as well. Our intention is to assist you completely so that you find out the current trend in the gold price.
Gold Price in Madurai – Past 6 Months Price
The entire movement of the Gold Rates in Madurai for the last 6 months have been comprehensively added in the below sections.
August 2020, Gold rate movement in Madurai
|Gold Rates in August 2020||22 Carat Gold Rate||24 Carat Gold Rate|
|01-08-2020||₹ 5,178||₹ 5,649|
|08-08-2020||₹ 5,380||₹ 5,869|
|15-08-2020||₹ 5,100||₹ 5,565|
|22-08-2020||₹ 5,048||₹ 5,506|
|31-08-2020||₹ 4,954||₹ 5,404|
|Highest Rate in August||₹ 5,420||₹ 5,913|
|Lowest Rate in August||₹ 4,912||₹ 5,358|
Gold is a safe investment for many. Even in Madurai, investors wisely choose to invest in gold with a perspective to fetch good long term gains. For buying gold, analysing its past movement is necessary. So, we have jotted points on the fluctuation of gold rates in August in Madurai.
- The gold prices on a weekly basis is given in the table to facilitate comparison.
- For 22 carat gold, the price on the 1st day of the month is Rs. 5,178 per gram and on the last day of the month is Rs. 4,954 per gram in Madurai.
- For 24 carat gold, the prices on the first day of the month is Rs. 5,649 per gram and on the last day of the month is Rs. 5,404 per gram.
- The month opened with a higher price and closed at a lower price.
- Performance analysis for both the types of gold is around 10%.
July 2020, Gold rate movement in Madurai
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,674||₹ 5,095|
|08-07-2020||₹ 4,678||₹ 5,099|
|15-07-2020||₹ 4,713||₹ 5,129|
|22-07-2020||₹ 4,785||₹ 5,220|
|31-07-2020||₹ 5,125||₹ 5,582|
|Highest Rate in July||₹ 5,125||₹ 5,582|
|Lowest Rate in July||₹ 4,610||₹ 5,062|
Watching the movement of gold rates every month is important while studying gold rate trends in Madurai. For the month of July, the movement in prices of gold are mentioned in this section along with some necessary points that are focused on:
- Data for five different days for the month of July is available in the below table. This data will help to get a better insight on the analysis.
- The highest price for 22 carat gold in Madurai is Rs.5,125 per gram and lowest price is Rs.4,610 per gram for the same category.
- For 24 carat gold the highest price is Rs.5,582 per gram and lowest is Rs.5,062 per gram.
- There is a gradual increase in prices this month which also means the stability is large.
- The overall performance for change in per gram gold rates for the city of Madurai is calculated to be at 11.17% for 22 carat gold and 10.27% for 24 carat gold.
June 2020, Gold Rate Movement in Madurai
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,502||₹ 4,820|
|08-06-2020||₹ 4,441||₹ 4,756|
|15-06-2020||₹ 4,521||₹ 4,841|
|22-06-2020||₹ 4,610||₹ 5,029|
|30-06-2020||₹ 4,627||₹ 5,048|
|Highest Rate in June||₹ 4,645||₹ 5,066|
|Lowest Rate in June||₹ 4,431||₹ 4,746|
We have drafted the table above to give you an insight into the gold rate in Madurai. We have segregated the columns into two segments like 22 carats and 24-carat gold. Here you will also come to know about the highest and lowest price for both including the percentage change in price.
- If you compare the price pattern, you will see that the price for the 22 carat gold is less compared to the 24 carat gold.
- The highest recorded gold price for 22 carat gold was Rs.4645
- Lowest recorded gold price for 22 carat gold price Rs.4431
- The highest recorded gold price for 24 carat gold in regards to the month of June was Rs.5066
- The lowest recorded gold price for 24 carat gold was recorded as Rs.4746
- Percentage performance of the 22 carat gold was 4.83%
- The change in percentage for the 24 carat gold was recorded as 6.74%.
- In fact, the difference in price between the 22 carat and 24 carat gold was not much.
May 2020, Gold Rates in Madurai
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,341||₹ 4,585|
|08-05-2020||₹ 4,449||₹ 4,692|
|15-05-2020||₹ 4,493||₹ 4,756|
|22-05-2020||₹ 4,508||₹ 4,811|
|31-05-2020||₹ 4,509||₹ 4,825|
|Highest Rate in May||₹ 4,582||₹ 4,874|
|Lowest Rate in May||₹ 4,341||₹ 4,585|
The table we have devised includes the Gold rates in Madurai statistics exclusively for the month of May. We have drafted the gold rate in Madurai per gram for both the 22 carat and 24-carat gold category.
- The price of gold at various intervals is documented in the above table that indicates the major variation in the gold price.
- Highest recorded price for 22 carat gold is 4,582 and the lowest price for the same is Rs.4,874
- The highest price recorded for the 24 carat gold was Rs.4,341 and the lowest price was Rs.4,585.
- The overall price performance of the month is stated in percentage. For 22 carat gold, it was 5.55% while for 24-carat gold it was 6.30%.
- You can see that the price drastically changed at the end of the month for both the segments of gold.
April 2020, Gold Rate Movement in Madurai
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 3,959||₹ 4,156|
|08-04-2020||₹ 3,955||₹ 4,158|
|15-04-2020||₹ 4,357||₹ 4,651|
|22-04-2020||₹ 4,297||₹ 4,587|
|30-04-2020||₹ 4,395||₹ 4,637|
|Highest Rate in Apr||₹ 4,474||₹ 4,686|
|Lowest Rate in Apr||₹ 3,953||₹ 4,151|
The statistics regarding the Gold Rate Movement in Madurai of the month of April are projected in the above table layout. It shows the Gold Rate in Madurai per Gram for both the segments of the gold.
- The price change of the gold is shown at major intervals for the month of April.
- You can notice that the price of the gold takes an increasing turn at the end of the month.
- The highest recorded gold price for the 22 carat gold was 4,474 but the highest price was Rs.4,686 for 24 carat gold.
- On the other end, the lowest recorded rate for 22 carat gold was Rs.3,953 and Rs.4,151 for 24 carat gold.
- The performance percentage of both 22 and 24 carat gold was recorded as 13.18% and 12.89%.
March 2020, Gold Rate Movement in Madurai
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 3,992||₹ 4,190|
|08-03-2020||₹ 4,210||₹ 4,422|
|15-03-2020||₹ 4,024||₹ 4,228|
|22-03-2020||₹ 3,970||₹ 4,168|
|30-03-2020||₹ 3,954||₹ 4,152|
|Highest Rate in Mar||₹ 4,239||₹ 4,446|
|Lowest Rate in Mar||₹ 3,841||₹ 4,028|
The gold price movement in Madurai is clearly depicted in the above table. For your comfort, we have drawn the price change in regards to Gold price in Madurai per gram for the whole month.
- The gold price at major recorded intervals is clearly discussed in the table along with the price for each day.
- You can observe a great shift for the whole month; in this case, you can see that the trend seems to be too high in the middle of the month.
- Percentage price performance for both 22 carat and 24-carat gold was 10.36% and 10.38% respectively.
- The lowest price point for 22 carat gold was Rs.3,841 and Rs.4,028 for 24 carat gold.
- On the other hand, the highest recorded price was Rs.4,239 for 22 carat gold and Rs.4,446 for 24 carat gold.
February 2020, Gold Price Movement in Madurai
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 3,889||₹ 4,084|
|08-02-2020||₹ 3,870||₹ 4,063|
|15-02-2020||₹ 3,932||₹ 4,081|
|22-02-2020||₹ 4,076||₹ 4,282|
|29-02-2020||₹ 3,988||₹ 4,189|
|Highest Rate in Feb||₹ 4,105||₹ 4,310|
|Lowest Rate in Feb||₹ 3,844||₹ 4,034|
Here we have analyzed the 22 Carat Gold Rate in Madurai for the month of February. You can verify the Gold Rate in Madurai per gram from the table and check the movement in the gold price for the whole month.
- The table displays the price frequency of the gold drafted through the major intervals of time.
- The price of the gold seems to take the upturn at the end of the month.
- Percentage performance of both the 22 carat and 24 carat gold is 21% and 6.13% respectively.
- The highest shift in the gold price for 22 carat gold was Rs.4,105 and for 24 carat gold was Rs.4,310.
- However, the lowest price shift for 22 carat gold was Rs.3,844 and Rs.4,034 for 24 carat gold.
January 2020, Gold Price Movement in Madurai
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,740||₹ 3,929|
|08-01-2020||₹ 3,930||₹ 4,128|
|15-01-2020||₹ 3,803||₹ 3,993|
|22-01-2020||₹ 3,814||₹ 4,000|
|30-01-2020||₹ 3,862||₹ 4,054|
|Highest Rate in Jan||₹ 3,930||₹ 4,128|
|Lowest Rate in Jan||₹ 3,736||₹ 3,924|
You can observe the 22 Carat Gold Price in Madurai for the month of January, and the type of price shift in the gold that took place for the same month. Take a view of the frequent change in the Gold Price in Madurai.
- The price of the gold followed a low trend pertaining to 24 carat and 22 carat gold for the whole month.
- You can notice that the table reflects the shift in the price for 5 different states for the whole month.
- Talking about the price stability that was to some extent quite much stable as the lowest price recorded for 22-carat gold was 3,736 and Rs.3,924 for 24-carat gold.
- The highest recorded price for 22 carat gold was 3,930 and for 24 carat gold, it was Rs.4,128.
- Statistics of the end price-performance were 5.19% and 5.20% respectively.
December 2019, Gold Rate Movement in Madurai
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,648||₹ 3,834|
|08-12-2019||₹ 3,614||₹ 3,800|
|15-12-2019||₹ 3,630||₹ 3,808|
|22-12-2019||₹ 3,639||₹ 3,825|
|30-12-2019||₹ 3,733||₹ 3,918|
|Highest Rate in Dec||₹ 3,741||₹ 3,930|
|Lowest Rate in Dec||₹ 3,593||₹ 3,775|
In the above table, we have included the price estimation of the 24 Carat Gold Rate in Madurai in regards to the last year, particularly for the month of December.
We have precisely drafted the table into two columns where the first column shows 22 carat gold and the second column highlighted 24 carat gold, displaying the gold rates in Madurai.
- For the whole month, the price trend for the gold was low.
- In addition to that, you can observe that the price trend seems to attain a stable state.
- At the lowest front, the recorded rate for 22 carat gold was 3,671 and for 24 carat gold, it was Rs.3,855.
- The highest price recorded for 22-carat gold was Rs.3,741 and for the 24 carat gold, the recorded price was Rs.3,930.
- The performance percentage for both 22 carat and 24-carat gold was 4.12% and 4.11% respectively.
Gold Rate in Madurai – Trend in 2020
While talking about gold price trends in 2020, the major outbreak of the pandemic situation to a great extent influenced Gold Rate Trend in Madurai.
In addition to that, the recent trade tension between Indian and China is also influencing the gold price.
Initially, the price escalated that was due to the commercial deal, but the price trend sloped downward it is because of the COVID 19 occurrence.
It is because of the COVID situation that the Stock market actually dipped down.
Also, the rise in the US dollar is equally responsible for the gold price fluctuation. However, you can see that the rate increased during the month of March due to the improvisation of the governmental policies to meet the COVID hazard.
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Gold Rate in Madurai – Trend in 2019
After a comprehensive analysis of the year 2019, ultimately we came to the conclusion that the Gold Rate Trend 2019 in Madurai was quite happening in a true sense. That means gold prices displayed a consistent rise and fall.
The Historical Gold Rate in Madurai again shows that the year 2019 had lots of occurrences which to a great extent impacted the price of the gold. Above all, the one and the only cause was the souring business tension between the China and USA.
The price of the gold just slipped down because of the setback in the demand for the gold metal. However, the price of the gold is very much dependent on the US Dollar value.
What makes Gold Rates in Madurai to increase?
Gold Rate in Madurai as of today fluctuates depending on both overseas and local circumstances. Happenings such as the increase in the demand for the gold or accentuated value of US Dollars are also responsible for the major shift in the gold price.
Therefore, go through the major factors at once to understand that in detail:
- The price of the gold rises during the period of inflation because during this time the demand for gold is quite high in the market.
- The movement of the global market also influences the price of gold. For India, the import price of the gold changes due to any sudden movement in the foreign market.
- The gold storage of the Reserve Bank of India plays a dominant role in influencing the price of the gold.
- Indians have a fetish for Gold jewellery. Furthermore, there is a tendency of buying gold during the festivity periods. Considering that surge in demand, the price of the gold automatically shoots up during such times.
- The less rate of interest also causes the price of the gold to rise. This is because the demand for gold increases as there is more cash in the people’s hands.
What makes Gold Price in Madurai to decrease?
Just in the above section, we penned the possible factors that contribute to the rise of the gold price. Now in this section, we will highlight the contrary factors that cause a decline in the gold price in Madurai.
- First, if the dollar value is high then it causes the gold price to fall.
- The market scenario that means the bear market also causes a drop in the gold price.
- More supply of gold with less demand for the same also causes the price of gold to fall.
- You all know that interest rate shares are inversely proportional to the gold price, which means the fall of the gold price is due to the rise in the rate of interest.
Why Central Bank Policies impacts Gold Rates in Madurai?
The central bank for many countries is the real vault for storing the gold and currencies. Each time when the Central bank plans to preserve the gold, the rate of the gold actually rises up.
Now it so happens because the cash flow in the economy accentuates but on the other hand, the gold supply is reduced.
Note that the change in the US dollar value causes the Indian currency to rise. Now investors consider this inflationary situation as a hedge and try to meet the increasing cost of living by purchasing gold, in accordance with Gold Price in Madurai.
On the whole, the revised bank policies such as the increase in the stock rates and government are the reasons behind the fall in the gold price altogether.
Why Gold Price in Madurai is different from other Cities?
Often times, gold buyers have seen that the gold price is different for different states. Now the variation in the price is definitely because of the international market.
However, if you consider the gold price in Madurai, then that is actually decided by the local association of the gold sellers.
Additionally, the US dollar also leaves a strong impact on the gold rate. Now, this causes the gold price to vary from one city to another.
Besides these, other conditions like the cost of transportation, quantity purchased, supply, and demand curve also influences the gold price.
On top of everything, you should note that the Indian currency also affects the gold price. That means, if the strength of the Indian currency is less than the gold price will rise.
What is Gold Rate in Madurai 916 Hallmark gold?
Now 916 hallmarks always assure that the gold you purchased has been manufactured according to all the regulations set by the Bureau of Indian statistics.
You can precisely call the 916 hallmarks as the 22 k gold. It shows that 91.6 grams of gold are present in 100 grams of the alloy.
Besides that, note that the hallmark gold ensures that, the product is very pure and authentic Therefore, gold rate in Madurai 916 is actually the price of the 22 carat gold.
Find out Gold Rates of more Indian Cities & States
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|Gold Rate in Mangalore||Gold Rate in Ranchi||Gold Rate in Amritsar||Gold Rate in Kakinada|
|Gold Rate in Meerut||Gold Rate in Vijayawada||Gold Rate in Nellore||Gold Rate in Lucknow|
How much is the Tax Levied on Gold Rate in Madurai?
Well according to the governmental regulation, about 3% of the charges are levied on the gold.
In the case of gold crafted jewellery, the extra 5% is imposed on the making charge of the gold ornaments. Note the word that GST is basically implied on both supply and service provided.
That means, GST is levied on the gold itself and on the manufacturing of the gold as well. You should know that the making price of the gold differs from one seller to another seller and this can be a fixed percentage on the final output.
On the other hand, the government fixes the tax on the gold rate in Madurai. Overall, you should remember that the GST charge of 5% on the making of the jewelry that is demanded by the seller would always remain the same.
Gold Rate in Madurai – Conclusion
Thus, we have reached to the conclusion and in this section, it would be worth saying we have tried to enlighten you on Gold Rate in Madurai and about the other factors that affect the price.
In this article, you got a detailed sneak peek of the fundamental determinants of gold price for the 22 carat and 24 carat gold. In addition, we stated the Today Gold Rate in Madurai, as well as the trends and the factors.
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