how to Converting forex gold rate to MCX gold rate

Hai
I would like to convert forex gold rates whic is some what like $900.00 per pounce to indian MCX gold rates. Pls let me know the calculation.
I would also like to convert forex copper , crude rates to indian rates.

gold formula=



usd rate*0.3215*50.65(INR rate)=mcx rate

for example


$933*0.3215*50.65=15192 rs.

how you got 0.3215 and 50.65

First you should know that 1 Ounce equals 28.3495231 Gms.

The rest is easy part.
$900 an Ounce equals 28.35 Gms.
and 1 USD has a definite value in INR.
Say value for 1 $ is 50 Inr.
then 900*50=45000/- Inr.
you get our rate as 45000/2.835=xxxxx
This xxxxx will be our rate for gold for 10 GMS.
Now there are some cathes, there will be impport dities and other levies to be considered, normally it comes out to be about 200/300 INR. Add that in 10 GM rate, you will get our MCX rate for gold. !!!!!!!!!!!

Hi Everyone

As per the standard conversion calculation the formula is:-
((((((($900+$1)*32.1507425)+10300)/100)*995/999)+100.1%
Where in:- $900 is comex price
Add $1 is standard brokerage
*32.1507425, it comes after converting 1troy ounce comex quote in 1 kg
Add 10300, which are the normal expenses occurred in importing gold
/100, as price quotation in MCX is for 10grams
*995/999, as in MCX we trade 995 purity gold and in Comex purity gets traded is 999
add 100.1%. for overheads

Cheers:clapping:

One of the oldest civilisations known to man, the Sumerians of Mesopotamia, who lived in what is modern-day Iran and Iraq, first used gold as sacred, ornamental, and decorative instruments in the fifth millennium B.C. Around the same period, the early Egyptians the richest gold-producing civilisation of the ancient world began the art of gold refining. Like the Sumerians, the Egyptians used gold primarily for personal adornment, rather than for monetary purposes, although the kings of the fourth to sixth dynasties (c. 2700 - 2270 B.C.) did issue some gold coins. The first large-scale, private issuance of pure gold coins was under King Croesus (560-546 B.C.), the ruler of ancient Lydia, modern-day western Turkey. Stamped with his royal emblem of the facing heads of a lion and a bull, these first known coins eventually became the standard of exchange for worldwide trade and commerce.:clap:

This conversion is okay for paper calculation.

Because now rate is 1236 per ounce and 66.82 is rate which comes 25027 and

rate of :clap::thumb::lol::rofl:gold in MCX was 29150