source – https://en.sge.com.cn/data_DelayedQuotes
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At open on Thursday, March 19:
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SGE silver traded at RMB 19,150.0/kg ($86.674 per troy ounce)
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COMEX paper price for silver is $76.390 per troy ounce
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SGE silver premium: $10.284 per troy ounce (13.5% over COMEX paper price)
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SGE gold traded at RMB 1,081.2/g ($4,893.511 per troy ounce)
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COMEX paper price for gold is $4,840.347 per troy ounce
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SGE gold premium: $53.164 per troy ounce (1.1% over COMEX paper price)
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How to Convert SGE to US dollar
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Start with the Shanghai silver price per kilogram quoted in RMB (CNY).
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Convert kilograms to troy ounces by dividing the price per kg by 32.1507.
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Look up the current CNY to USD exchange rate from a reliable financial source.
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Convert the RMB-per-ounce price into USD by multiplying by the CNY/USD exchange rate.
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Repeat this process over time and log results to track Shanghai premiums over COMEX paper prices.
end of segment