Since last year, China has been continuously tightening the investment channels for ordinary investors in leveraged silver products. This has caused more and more attention to London silver from overseas markets, but it has always been priced in US dollars and ounces. For investors who are accustomed to domestic measurement units, there is naturally a need for "conversion".
In fact, the conversion between London silver and domestic silver prices is not complicated. Investors must first understand how "ounces" and grams are converted, and then after understanding the exchange rate of the US dollar to the RMB, they can calculate it through a simple formula. The process is nothing more than That means changing ounces to "grams" and then converting U.S. dollars into RMB.
Specifically, the weight unit of London silver is the troy ounce, 1 ounce ≈ 31.103 grams, and then we follow the central parity rate of the U.S. dollar against the RMB that is updated daily by the People's Bank of China. For example, currently 1 U.S. dollar can be exchanged for 6.3130 yuan, MT4 latest The displayed London silver price is 25.11 US dollars/ounce, which means: 25.11*6.3130/31.103≈5.097 yuan/g. If the unit is kilograms, it is 5097 yuan/kilogram.
If you understand the above conversion method, even if you don’t have a calculator or an online conversion tool, you can roughly calculate the price relationship between the two through simple mental arithmetic. Generally speaking, investors can calculate the latest By dividing the London silver price by 5, you can roughly get the domestic silver price.