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

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
BUY_SELL_AVERAGE_EXIT
Average calculation
Price:Rs. 1,999.00
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