Gold rate today in Madurai

Gold rate in Madurai today

At the last update, one gram of 24k gold in Madurai works out to about 12,209 INR, and a gram of 22k to about 11,192 INR. Per sovereign (8 grams), the unit gold rates are quoted in here, that is about 97,668 INR for 24k and 89,532 INR for 22k. These are spot-based figures, before any tax, premium or making charge.

Hallmarking in Madurai

A hallmarking centre in Madurai was set up with central assistance under a Bureau of Indian Standards scheme, which helped open testing centres in cities outside the big metros.

Gold in Tamil Nadu is priced per sovereign of 8 grams as well as per gram, and Madurai jewellers follow that habit, so compare the sovereign price when you shop between Madurai and Chennai.

What moves the gold price in Madurai

Two numbers set the gold price in Madurai: the international price in US dollars, about $4,042.7 per ounce at the last update, and the USD/INR exchange rate, now 93.929. The rupee floats: the Reserve Bank of India says it does not target any level for the rupee and steps in only to calm excessive swings. A 2% fall in the rupee lifts the local rate by about 2% even if gold does nothing in New York.

The dollar price itself responds to US interest-rate expectations, the strength of the dollar, inflation data, central-bank buying and geopolitical risk. Our guide to what moves gold prices covers each in turn.

Premiums, making charges and tax in Madurai

The shelf price in Madurai is higher than the converted figure above. A shop adds about 15% import duty (since 13 May 2026, already inside the IBJA benchmark), 3% GST on the whole bill including making charges, and the jeweller's margin. On jewellery, making charges are charged as a percentage of the gold value or per gram, typically higher for intricate and temple designs, so two pieces of the same weight and purity can carry very different prices. Jewellery is mostly 22k (916); BIS hallmarking with a six-digit HUID is compulsory in 392 notified districts, and 24k (999 or 995) is sold as coins and bars.

Gold market hours in Madurai

The international gold market trades almost around the clock on weekdays. In Madurai the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 18:30–22:30 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 16:00 and 20:30 in Madurai, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 19:00 local time. The week's trading closes at 03:30 on Saturday and reopens at 04:30 on Monday, Madurai time; over the weekend the price on this page is the last close. MCX lists gold futures, most quoted per 10 grams, and the India Bullion and Jewellers Association publishes the benchmark rate, polled twice a day, that most jewellers quote. Our gold market hours tool shows the sessions in any time zone.

Madurai compared with Chennai

Madurai and Chennai both price gold in INR off the same international price and the same exchange rate, so the converted figure is identical: about 12,209 INR per gram of 24k in both. Any difference at the counter comes from making charges, dealer premiums and how hard the shops compete.

How this INR gold price is calculated

Three numbers decide everything on this page. First, the international gold price in US dollars per troy ounce: $4,042.7 at the last update. Second, the exchange rate: 1 USD = 93.929 INR. Third, the weight: one troy ounce is 31.1035 grams, and one tola is 11.6638 grams.

1. Price per gram in USD = $4,042.7 ÷ 31.1035 = $129.98.
2. Price per gram in INR = $129.98 × 93.929 = 12,209 INR (24k, pure gold).
3. Price per sovereign = 12,209 × 8 = 97,668 INR.
4. For a lower purity, multiply by the fineness: 22k = 0.9167, 21k = 0.875, 18k = 0.75.

The gold price is the spot price of gold (XAUUSD) from a public real-time feed, refreshed every few seconds while the page is open; the 7-day table and the 30-session chart use COMEX gold futures closes, which usually sit a few dollars above spot. The exchange rate is a mid-market rate; the rate your bank or money changer gives you will be slightly different. If you want to do the maths yourself, our guide to converting the gold price per gram, tola and kilo walks through every step with worked examples.

What this price does not include

The figures above are the international spot price converted into local currency. They are the starting point for every retail price in Madurai, but they are not the price you will pay or receive at a shop. The shop price adds some or all of these on top:

• Import duty or customs charges, where gold or jewellery is imported.
• GST (goods and services tax), where the country charges one. Many countries tax jewellery but not investment bars; the sections above say what applies here.
• Dealer premium: the margin a bullion dealer or bank adds to the spot price for bars and coins, usually larger on small pieces.
• Making charges (labour) on jewellery, often a percentage of the gold value or a fixed amount per gram.
• Local supply and demand, which can push the physical price to a premium or a discount against the international price for weeks at a time.

When you sell, the buyer usually quotes below the spot-based number and deducts for purity testing, wear and sometimes stones. The gap between the buying and the selling price is the real cost of owning physical gold, and it varies a lot between shops, so it is worth asking several.

Frequently asked questions