Landed cost

Landed cost is the all-in cost of importing a metal to a local market. For Indian bullion it stacks the converted global price on top of customs duty and adds local premiums, financing or carry, and execution friction. The result is the cost base from which an import-parity fair value is derived.

For a trader, the landed-cost profile is the set of assumptions that turns a raw converted global price into a realistic local fair value. Two analysts using different duty or premium assumptions will produce different parity lines, which is why the chosen cost profile should always be visible.

Landed cost is an estimate, not a fixed number. Duty rates, financing costs, and physical premiums change over time, so a landed-cost model is a transparent set of assumptions to be reviewed rather than a guaranteed price.