Gold is interwoven with the long history of Madurai. Being the hub for gold trade, the city used to be a trading center between Southern India and Sri Lanka. The trade of gold and precious stones between Madurai and Sri Lanka was mentioned in ancient Tamil literature. In 2009, a cache of gold bricks and jewels thought to have been lost for 2300 years was found close to Madurai. This is a physical proof that the town has always been associated with this sense of preciousness.
As of today, the price of gold in Madurai is shown below for 22 karat gold (most commonly used for jewellery) and 24 karat gold (pure gold).
These prices are subject to change based on market fluctuations. You can find the latest gold rates in Madurai through INDmoney website.
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Gold prices in Madurai are set by local demand, international market prices, and the USD to INR exchange rate.
In Madurai, legitimate jewellery stores, authorised dealers, and approved online marketplaces are good places to buy gold.
Suppose you keep your receipt after purchasing gold jewellery in Madurai. In that case, it may be easier to prove its authenticity or value later on, particularly if you intend to sell or exchange it.
One can confirm the purity of gold in Madurai using certified examiners, authorised jewellery appraisers, or hallmarking facilities.
Global market trends are influenced by various factors such as currency exchange rates, local supply, import taxes, and the demand for gold in Madurai.