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How Silver, Gold Price is calculated in MCX

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How Silver, Gold Price is calculated in MCX

Postby vpukken » Tue Apr 02, 2013 11:04 pm

MCX's Gold price is quoted in INR for 10 grams and Silver is quoted in 1 kilogram respectively. International gold/silver price is quoted in troy ounce.



For gold and silver MCX price is dependent on:



*International Price

*USD to INR rate conversion

*Quoted unit for Gold and Silver

*Troy Ounce to Grams Conversion

*Supply and Demand for Gold and Silver in MCX Trading



How to calculate Gold Price?



*Quoted unit for Gold in MCX Exchange = 10 grams

*One Troy Ounce = 31.1034768 grams; So 1 gram = 1/31.1034768 Troy Ounce

*For international price, go to http://in.reuters.com/finance/commodities (example:1580 USD per troy ounce)

*For USD to INR conversion, go to www.xe.com and get the latest prices( example: 1 USD= 55.0000 INR)

* Gold Price Calculation Formula for 1 gram = (International Gold Price) x ( USD to INR rate conversion) / ( Troy Ounce to Grams Conversion)



1 gram gold = (1580 x 55.0000) / 31.1034768 1NR

= 86990 / 31.1034768 INR

= 2793.9INR



Note: Since MCX price is quoted in INR for 10 grams, multiply 2793.9 x 10 = 27939 INR.



How to calculate Silver Price?



* Siver Price Calculation Formula for 1 gram = (International Silver Price) x ( USD to INR rate conversion) / ( Troy Ounce to Grams Conversion

*Quoted unit for Silver in MCX Exchange = 1 Kilogram, which is equal to 1000 grams

*One Troy Ounce = 31.1034768 grams; So 1 gram = 1/31.1034768 Troy Ounce

*For international price, go to http://in.reuters.com/finance/commodities (example:28 USD per troy ounce)

*For USD to INR conversion, go to www.xe.com and get the latest prices( example: 1 USD= 55.0000 INR)



1 gram siver = (28 x 55.0000) / 31.1034768 1NR

= (1540) / 31.1034768 1NR

= 49.5121 INR



Note: Since MCX price is quoted in INR for 1 Kilogram, multiply 49.5121 x 1000 = 49512.1 INR.
VOLATILITY ALWAYS EQUALS OPPORTUNITY

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cherry (Tue Apr 23, 2013 7:34 pm), svasudevan05 (Mon Apr 08, 2013 8:18 am)
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