Understanding Gold Price Conversion: International to Indian Market

Gold prices are quoted differently in international and Indian markets. While global markets use USD per ounce, Indian markets typically quote INR per kilogram. Understanding this conversion is crucial for traders, investors, and enthusiasts tracking gold prices in both markets.

Gold Price Calculation: USD to INR per Kg

Given Data:

• International Gold Price: $2,864 per 100 ounces
• 1 Ounce (Troy): 31.1035 grams
• 1 Kilogram: 1,000 grams
• USD to INR Exchange Rate: 87.58 INR per USD (as of February 6, 2025)

Step-by-Step Conversion:

1. Find Price per Ounce: Gold price = $28.64 per ounce
2. Convert to Price per Gram: Gold price = $0.9211 per gram
3. Convert to Price per Kilogram: Gold price = $921.1 per kg
4. Convert to INR per Kilogram: Gold price in India = ?80,665 per kg

Why This Matters?

For traders and investors, tracking these conversions helps: ? Identify arbitrage opportunities between international and domestic gold prices. ? Understand how exchange rates impact gold prices in India. ? Make informed trading and investment decisions.