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Gold Rate in Madurai (23rd February 2017)

Todays gold rates in Madurai will always vary over yesterday's gold rates. We provide daily live gold rates in Madurai for our readers. However, it is important to note that gold prices are not like shares and they do not change on a second basis. Gold prices in Madurai will change every day, two times a day.

Today 22 Carat Gold Price Per Gram in Madurai (INR)

Gram 22 Carat Gold
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,818.60 ₹ 2,826.60 ₹ -8
8 gram ₹ 22,548.80 ₹ 22,612.80 ₹ -64
10 gram ₹ 28,186 ₹ 28,266 ₹ -80
100 gram ₹ 2,81,860 ₹ 2,82,660 ₹ -800

Today 24 Carat Gold Rate Per Gram in Madurai (INR)

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 3,004.40 ₹ 3,012.10 ₹ -7.70
8 gram ₹ 24,035.20 ₹ 24,096.80 ₹ -61.60
10 gram ₹ 30,044 ₹ 30,121 ₹ -77
100 gram ₹ 3,00,440 ₹ 3,01,210 ₹ -770

Gold Rate in Madurai for Last 10 Days (10 g)

Date 22 Carat 24 Carat
Feb 22, 2017 ₹ 28,186 ₹ 30,044
Feb 21, 2017 ₹ 28,266 ₹ 30,121
Feb 20, 2017 ₹ 28,305 ₹ 30,163
Feb 17, 2017 ₹ 28,425 ₹ 29,891
Feb 16, 2017 ₹ 27,994 ₹ 29,853
Feb 15, 2017 ₹ 28,041 ₹ 29,902
Feb 14, 2017 ₹ 28,107 ₹ 29,963
Feb 13, 2017 ₹ 28,155 ₹ 30,013
Feb 11, 2017 ₹ 27,987 ₹ 29,843
Feb 10, 2017 ₹ 28,348 ₹ 30,201

Weekly & Monthly Graph of Gold Price in Madurai

Historical Price of Gold Rate in Madurai

  • Gold Price Movement in Madurai, January 2017
  • Gold Rates 22 Carat 24 Carat
    1 st January rate Rs.28,189 Rs.30,042
    31st January rate Rs.26,981 Rs.28,874
    Highest rate in January Rs.28,358 on January 18 Rs.30,213 on January 18
    Lowest rate in January Rs.0 on January 16 Rs.0 on January 16
    Over all performance Falling Falling
    % Change -4.29% -3.89%
  • Gold Price Movement in Madurai, December 2016
  • Gold Price Movement in Madurai, November 2016
  • Gold Price Movement in Madurai, October 2016

Why to Track Gold Rates in Madurai?

If you are buying large quantities of gold in the city of Madurai it makes sense to check gold prices before buying. This is because prices of the precious metal have gone-up substantially in the last few years.

So, a small variation of Rs 10 also in the prices of the precious metal can make a lot of difference. Let us assume you buy 100 grams of gold in Madurai. The difference here would be Rs 1,000. hence, it makes sense to see the live gold prices for 22 karats gold in Madurai. However, you have to take your own decision on when to buy and when to refrain from buying.

So When Do You Buy Gold in Madurai?

This is always a tricky question to answer and has risks. However, to be honest, if you want to make money buying gold in Madurai, the best bet would be to buy gold when the prices are lower. For example, if rates fall to as close as Rs 26,000 it may not be a bad proposition for those looking at long term investing.

However, at all times, you should stay focused on buying high quality 916 hallmarked gold in Madurai. This will also ensure that you can sell the gold rather easily when needed. One thing we wish to state is buy hallmarked gold in the city. This is because these are tested for quality and more commonly what is called the karats or the purity of the precious metal. We are not sure where you could get the same in Madurai, but you would need to check the same with your local jeweller.

What is the meaning of 916 hallmarked gold in Madurai?

916 explains the purity of gold. It explains that your gold is 22 karats. In short, you can say if the jewellery is marked 916 it means it contain 91.6 per cent gold and 8.4 per cent other metal. Why gold is mixed with other metals is simply because it makes the entire product stronger. The Bureau of Indian Standards(BIS) marks gold jewellery in Madurai and in India to ensure you that the jewellery is of very high quality. This ensures that you are getting the best quality for the price of gold in Madurai you are paying for. This hallmarking is done by authorised essaying centers. To find where it is hallmarked and which year is it manfactured and how many karats is the jewellery all these you can find on the logo of BIS hallmark. Better Check all the details before paying the price of gold in Madurai and other cities in india.

Don't forget to pay your taxes on gold

The Physical form of Gold or ETF's there are applicable taxes. If the value of gold you are having exceeds 30 Lakh you have to pay wealth tax and There are individuals who are making profits by buying and selling gold such as by buying gold while price of gold in Madurai is decreased and selling while increased so for the individuals who are making such profits then you need to pay capital gains tax. So its better to pay taxes and not to get penalised by forgetting to pay it.

Selling gold in Madurai

We have spoken when to buy gold in Madurai. Do you know where you can sell gold in Madurai. But the first thing you should do before going to sell gold is to check live gold rates in Madurai at goodreturns to make sure that you are not fooled on the rates because Gold rates in Madurai change everyday.

Due to factors such are currency movement, mining that takes place and the overall economic and political situations. One cannot rely on old gold rates because of the day today situations in politics are changing like never before such as prime minister narendra modi taking a step by banning two biggest denominations of 500 and 1000 and introducing new 2000 note.

So its better to have a look at today gold rates before selling. As there are companies which claim to offer you the highest gold rates in Madurai, but, you need to be cautious. There are companies which charges to test your gold and melt your gold for testing. So its better to go for some good companies such as Adyama Gold, where you can sell the precious metal where it is assured that the quality remains intact. Also, there are few gold buying companies which conducts the test in front of your eyes, so there is some certainty on that.

Which metal is alloyed with gold?

24 karats gold means the finest or purest gold. Whereas in 22k, 18k, 14k and 10 karat and 9 karat  gold is alloyed with other metals. The metal which are used is silver, copper and zinc. Whereas for white gold, palladium is mixed.

For 22 karats, gold is alloyed with three metals silver copper and zinc the percentages will be as follows gold 91.70 per cent, silver 5 per cent, copper 2 percent and zinc 1.30 per cent.

For 18 karats, gold is alloyed with silver and copper in this zinc is not alloyed like zinc is alloyed in 22 karats in making of 18 karats gold jewellery 75 per cent of gold is alloyed with 15 per cent silver and 10 per cent copper.

For 14 karats, gold is alloyed with silver and copper like for 18 karats and the percentage of silver and copper is as follows:30 per cent silver and 11.70 per cent copper is alloyed with 58.30 per cent of gold in making of 14 karats gold jewellery.

For 10 karats and 9 karats like 18k and 14k zinc is not alloyed in making. Only silver is alloyed for making 14k gold 52 per cent silver 6.3 per cent copper is used and the rest gold and for 9 karats 42.5 per cent silver and 20 per cent copper is used and rest is gold.

Understanding wastage charges in Madurai

If you are planning to make new gold there are few charges which come into the picture such as making charges, wastage charges and etc. So we must have the better understanding about all those charges so that not to end up loosing money.
Some Indian jewelers does not add the wastage charge but they increase the making charges 20% to 30% depends upon the jewellery.

 Most individuals in Madurai sell their old or ancestral jewelry to make new jewellery . However, we strongly advocate that you do not sell the old gold or ones that are broken to the goldsmith. Better to go for some reputed shops or jewellery merchants as they give offers such as zero making charges and wastage charges.

Even there is few kind of testing where they melt your jewellery for testing purpose. There are jewellers who use computerized testing in which they don't melt your jewellery and will give great offers due to which you can get the satisfactory exchange for your old or ancestral jewellery. Before selling or buying you must know what is the price of gold in Madurai so that you will have a clarity the price you are paying is worthy or not.

Gold ETF's in Madurai

The city of Meenakshi Amman temple Madurai is claimed to be soul of Tamilnadu. There are individual investors from Madurai who invest in gold. Invest can be done in both the forms physical as well as ETF's. ETF's means exchange traded fund. Individuals who want to invest in the physical form of gold are advised to go for gold coins or gold bars than jewelry. In that way they can get more profits.

The individuals who are planning to go for ETF's will have a lot of advantages such as easy liquidity and ease in selling. Buying through ETF's is secured and easy method when compared to buying physical gold. Of course, if you want to use gold for personal consumption, there is no way you are going to buy gold ETFs.

Gold ETFs provide an opportunity to investors of Madurai to accumulate gold over a given period of time. Since the investor can buy in small quantities, one can plan the procurement as per future requirements such as for the marriage of children, etc.
Its very important to check the gold rates before selling gold in physical form or ETF's which you can check on gold rates in Madurai in good returns.in

Latest Updates on Madurai Gold Rates

Gold rates in Madurai hold ground

Gold prices in Madurai were steady and little changed over the previous days as investors sold into the precious metal on rally. Both gold for 22 karats and 24 karats in Madurai have been in a downward spiral since early October 2016, but, have recovered some ground since. The dollar halted its rally, which led to gold prices internationally falling and this had an impact on gold prices in Madurai. If you are looking to buy into the precious metal, wait for sometime as the rally may halt and you may get gold prices at lower levels.

22 December 2016

Disclaimer: The gold rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on gold information provided.