Before that, we have to know about some of basic things.
- In US gold & Silver is quoted in Troy Ounce.
- In MCX Gold & Silver in quoted in Grams.
- One troy ounce is equal to 31.1034768 grams
- Here Gold unit is quoted as 10 Grams ,
- Silver is quoted as 1000 grams or 1kg
US Comex gold & silver rate
$ Vs ₹ Rate
Lat us see calculation formula,
Comex gold X ($ Vs ₹)
GOLD Rate = ------------------------------ X10 = 916 grade or 22 carat
31.1034768
Now convert 22 carat to 24 carat, that is MCX Rate
Gold rate
Mcx Gold = ------------- X 100 + Time value
91.6
For example:
Comex gold 1326 ounce, $ Vs ₹ is 63 Now see the calculation,
1326 X 63
= -----------------X 10 =26858
31.1034768
26858
Mcx Gold = ----------- X 100 =29321 + Time value.
91.6
============================
Same Formula has to follow for calculating MCX Silver also
Comex silver X ($ Vs ₹)
Silver Rate = ------------------------------ X10 = 916 grade or 22 carat
31.1034768
Now convert 22 carat to 24 carat, that is MCX Rate
Silver rate
Mcx Silver = --------------- X 100 + Time value
91.6
=============================
NSEBSENOW-Team
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