The gala was held at The Star Gold Coast, one of the sponsors of the Games, and was hailed as a major milestone by the organisers.

Over 700 guests attended the event, which included high profile individuals from business and sport.

Money was raised through the auction of items and a range of experiences, with one of the lead items being an official fleet vehicle, a Mitsubishi Pajero Sport GLS.

It was donated by Thrifty, the official car rental provider of the Games.

An opportunity to kick-off the men’s gold medal match of the rugby sevens with three Category A seats and a signed match ball, as well as an eight person "flavours of Tokyo" experience at the Chefs' hatted restaurant, Kiyomi, were also on offer.

A total of AUD$358,080 (£205,156/$271,376/€231,230) was raised on the evening.

“To raise over $350,000 will see us generate great financial outcomes for the Gold Coast Community Fund with the funds raised through the event helping those most in need in our community,” said Peter Beattie, Gold Coast 2018 chairman.

“This result is a great legacy for the community but importantly reinforces the generosity of people in this city and the fact that they are truly embracing Gold Coast 2018 in so many ways.”

All funds raised will go to the Gold Coast Community Fund, which was named as the official charity of the Games in August.

The fund distributes money to charities, community organisations and people in need of emergency support.

Gold Coast community fund deputy chairman, Nick Scott, has claimed the money raised is a major boost for the organisation.

“Over the past 18 years, the Gold Coast Community Fund has provided almost AUD$3 million (£1.7 million/$2.3 million/€2 million) in assistance to Gold Coast community groups and individuals and the generosity shown at the Gold Coast 2018 Charity Gala is a huge boost for the work our organisation can undertake,” he said.

“On behalf of the Fund I would like to sincerely thank the Gold Coast community and Gold Coast 2018 for giving our organisation the honour of being the official Gold Coast 2018 Charity and the platform to drive awareness and fund for so many worthy causes.”

The event also saw the Games’ gold, silver and bronze medals being unveiled.

Medals were designed by Delvene Cockatoo-Collins, a local artist and descendent of the Nunukul, Ngugi and Goenpul people.

She claimed Queensland’s beaches and coastline had inspired her designs.

A total of 1,500 of the gold-plated, silver and bronze medals will be pressed with precision and brought to life by the Royal Australian Mint, who are responsible for the production and delivery of the medals.

They each weigh around 160 grams and can take up to 63 hours to be made.

These medals are a part of the Reconciliation Action Plan, an initiative designed to recognise, respect and celebrate Aboriginal and Torres Strait Islander cultures.