MCX Gold vs COMEX - What Is the Difference?
MCX gold and COMEX gold track the same underlying commodity but differ in currency, contract size, settlement, exchange hours, and India-specific cost layers.
Live comparison - updated daily
Latest local update: 2026-06-06 18:10 UTC. Educational reference only.
MCX vs COMEX - Side by Side Comparison
MCX Gold
Exchange: Multi Commodity Exchange, India
Currency: Indian Rupee (INR)
Unit: per 10 grams
Standard contract: 1 kg
Settlement: physical delivery or cash, depending on contract
Influenced by: COMEX, USD/INR, import duty, India demand
COMEX Gold
Exchange: CME Group, New York
Currency: US Dollar (USD)
Unit: per troy ounce
Standard contract: 100 troy oz
Settlement: physical delivery or cash, depending on contract
Influenced by: Fed policy, DXY, global ETF/COT flows
Why MCX Price Differs from COMEX
| Factor | Impact on India price |
|---|
| USD/INR exchange rate | Every rupee move changes India gold price directly. A 1% rupee depreciation roughly adds 1% to India gold cost. |
| Import duty and cess | India buyers pay a structural premium over raw COMEX conversion. |
| GST | Domestic gold purchases include GST and invoice-specific charges. |
| India physical demand | Festival season, rural income, dealer inventory, and RBI policy can change local premium. |
| Today's India premium | +15.71% above COMEX conversion by PMDesk's IBJA reference model. |
How to Convert COMEX Price to India 10g Format
- Start with COMEX gold: $4,365.30 per troy ounce.
- Divide by 31.1035 to get $140.3475 per gram.
- Convert with USD/INR 94.95: Rs 13,326.00 per gram.
- Multiply by 10 for India format: Rs 133,260 per 10g before duty/premium.
- Compare with India reference: Rs 151,577 per 10g.
Which Price Should India Readers Track?
- Track COMEX for global direction, dollar gold context, COT positioning, and ETF flows.
- Track MCX/IBJA for India physical reference, rupee cost, and local premium context.
- Track USD/INR because currency can offset or amplify global gold moves.
- Track duty and GST because policy changes can reprice India gold even if COMEX is flat.
Track MCX, COMEX and India Premium Daily
PMDesk shows COMEX spot, India reference, USD/INR, physical premium, COT/ETF context, and India-specific demand signals in one daily brief.
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Educational market intelligence only. Not SEBI registered investment advice.
Not personalized financial advice. No trade calls or price targets.
Verify official exchange, CBIC, GST, IBJA, and dealer data before making decisions.
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