Friday, June 15, 2012

Formula for Converting Spot Siver price into MCX Silver

Formula for Converting Comex Siver price into MCX Silver price

Factor You should take into consideration

  • A] Spot Silver per Oz in USD = 49.82( Just ass example) Variable
  • B] Troy Ounces = 31.103477 Gram Constant
  • C] MCX Price Quotation = 1000 Gram Constant ( 1 KG)
  • D] Current Currancy Rate = 1 USD = 44.44 INR Variable
  • E] Import Duty per 10 Gram = 2411 INR Constant
  • F] Days left to Expiry = 10 Days(for MCX Silver Future contract expiring 05/05/11) Variable
  • G] Cost of Carry per Day for 1000 Gram = 1 INR Constant It worked most of time for me. But you can change it as per market and your expectation.
  • Fair Price formula for 1000 Gram in INR
  • Step 1 – Calculate Spot Silver Price (USD) in Gram = A/B = 1.6017
  • Step 2 – Calculate Spot Gold Price as per MCX Quotation = (A/B)*C = 1601.7
  • Step 3 – Convert it into INR = (A/B)*C*D =71179
  • Step 4 – Add Import Duty = [(A/B)*C*D]+E = 73590
  • Step 5 – Add Cost of Carry to Get Future Contract Price = [(A/B)*C*D]+E+(F*G) = 73600
  • Step 6 – Always Round off it to nearest INR = 73600
  •   73600 Today High in MCX49.82 Today High in COMEX

 http://themacmob.com/wp-content/uploads/2012/01/fw_convert2_icon.gif

MCXPOINTS.COM MCX PRICE CONVERTER 2.2

CONVERT ALL FOREX PRICE TO INDIAN MCX RATE
GOLD,SILVER,COPPER,CRUDE, ZINC,LEAD N MORE..

Price:Rs. 999.00

www.MCXGOLDGURU.com

More info ?
Call : 08126398882

BUY_SELL_AVERAGE_EXIT

Average calculation

Price:Rs. 1,999.00

www.MCXGOLDGURU.com

More info ?
Call : 08126398882