Last updated on: 21st Sep 2023
Madurai, a city in the state of Tamil Nadu situated on the bank of river Vaigai is famous for its temple, tradition and heritage. Gold holds a significant place in the people of Madurai’s hearts as it's often bought as a tradition than anything else. People of the city love to buy gold both for personal reasons and also for investment purposes.
Let's dive deep and understand more about the gold rate of the city, factors affecting the gold rate and much more.
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹4,481.25 +14.25 (0.32%) | ₹4,434.75 -46.50 (1.05%) |
8 grams | ₹35,850.00 +114 (0.32%) | ₹35,478.00 -372 (1.05%) |
10 grams | ₹44,812.50 +142.50 (0.32%) | ₹44,347.50 -465 (1.05%) |
100 grams | ₹4,48,125.00 +1425 (0.32%) | ₹4,43,475.00 -4650 (1.05%) |
Any change in the global gold market affects the price of gold in Madurai such as changes in demand, economic conditions, geopolitical events, or currency movements.
The exchange rate between the Indian Rupee (INR) and other major currencies has a direct influence on the gold price in Madurai in which the US Dollar plays the most important role. Local demand and supply also play an important factor such as festivities, cultural traditions, wedding season, etc. Government policies and taxes, such as import duty, customs etc also affect the price of gold in Madurai. Market speculation and investor sentiment are other factors that can affect gold prices.
Day | 18K Gold |
---|---|
21 Sep 2023 | ₹44,347.50 -465 (0.59%) |
20 Sep 2023 | ₹44,812.50 +142.50 (0.18%) |
19 Sep 2023 | ₹44,670.00 -7.50 (0.01%) |
18 Sep 2023 | ₹44,677.50 +195 (0.25%) |
15 Sep 2023 | ₹44,482.50 +315 (0.40%) |
14 Sep 2023 | ₹44,167.50 +7.50 (0.01%) |
13 Sep 2023 | ₹44,160.00 -15 (0.02%) |
12 Sep 2023 | ₹44,175.00 -225 (0.29%) |
11 Sep 2023 | ₹44,400.00 +37.50 (0.05%) |
08 Sep 2023 | ₹44,362.50 -120 (0.15%) |
Day | 18K Gold |
---|---|
21 Sep 2023 | ₹44,347.50 -465 (0.59%) |
20 Sep 2023 | ₹44,812.50 +142.50 (0.18%) |
19 Sep 2023 | ₹44,670.00 -7.50 (0.01%) |
18 Sep 2023 | ₹44,677.50 +195 (0.25%) |
15 Sep 2023 | ₹44,482.50 +315 (0.40%) |
14 Sep 2023 | ₹44,167.50 +7.50 (0.01%) |
13 Sep 2023 | ₹44,160.00 -15 (0.02%) |
12 Sep 2023 | ₹44,175.00 -225 (0.29%) |
11 Sep 2023 | ₹44,400.00 +37.50 (0.05%) |
08 Sep 2023 | ₹44,362.50 -120 (0.15%) |
Day | 18K Gold |
---|---|
21 Sep 2023 | ₹44,347.50 -465 (0.59%) |
20 Sep 2023 | ₹44,812.50 +142.50 (0.18%) |
19 Sep 2023 | ₹44,670.00 -7.50 (0.01%) |
18 Sep 2023 | ₹44,677.50 +195 (0.25%) |
15 Sep 2023 | ₹44,482.50 +315 (0.40%) |
14 Sep 2023 | ₹44,167.50 +7.50 (0.01%) |
13 Sep 2023 | ₹44,160.00 -15 (0.02%) |
12 Sep 2023 | ₹44,175.00 -225 (0.29%) |
11 Sep 2023 | ₹44,400.00 +37.50 (0.05%) |
08 Sep 2023 | ₹44,362.50 -120 (0.15%) |
Day | 18K Gold |
---|---|
21 Sep 2023 | ₹44,347.50 -465 (0.59%) |
20 Sep 2023 | ₹44,812.50 +142.50 (0.18%) |
19 Sep 2023 | ₹44,670.00 -7.50 (0.01%) |
18 Sep 2023 | ₹44,677.50 +195 (0.25%) |
15 Sep 2023 | ₹44,482.50 +315 (0.40%) |
14 Sep 2023 | ₹44,167.50 +7.50 (0.01%) |
13 Sep 2023 | ₹44,160.00 -15 (0.02%) |
12 Sep 2023 | ₹44,175.00 -225 (0.29%) |
11 Sep 2023 | ₹44,400.00 +37.50 (0.05%) |
08 Sep 2023 | ₹44,362.50 -120 (0.15%) |
Gold in India is subject to taxation either on purchase or on sale.
On the purchase of gold, the seller charges GST @ 3%. When you sell the gold, taxability depends upon the period you hold the gold. If you sell gold within 3 years of buying it, any profit you make is called short-term capital gains and are taxed at slab rate whereas, if you sell gold after owning it for 3 years or more, any profit you make is called long-term capital gains and taxed @ 20% with indexation.
In Madurai, the gold rate is determined by many factors. The international price of gold is the most important factor, as it sets a benchmark for gold prices globally. Supply and demand of gold by locals play a crucial role. If the demand for gold is high and the supply is limited, it can increase the prices. Additionally, local factors such as festivals, weddings, and cultural traditions impact the gold rate in Madurai. The Reserve Bank of India also influences prices, as increased buying by the central bank can reduce the gold supply in the local market.
Yes, 24 Karat is gold in its purest form. But it is too soft for use. Hence, metals like zinc are added to strengthen it. The gold thus created is the 22 Karat variant. While 24 Karat is 99.9% pure, 22 Karat typically consists of around 91% pure gold. As a result, 24 Karat gold costs more than 22 Karat gold.
Location
₹44,348 / 10gm
Last updated on: 21st Sep 2023
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