Interactive workflow

Gold Desk Workflow: From Fair Value to Trade Plan

A guided desk session for newer commodity traders who need a practical path from market data to a disciplined daily plan.

18 minBeginner6 chapters

Educational only

The examples teach workflow and risk framing. They do not provide trade recommendations, personalized advice, leverage guidance, or guaranteed outcomes.

Chapter 01

From COMEX to local market fair value

Trader question

Is local market gold rich or cheap versus global gold?

Start with the global gold reference, convert through FX, add visible local assumptions, then compare the active local market contract against a fair-value band.

Desk checklist

Check timestamp freshness before trusting the spread.
Keep the contract month and local quotation basis visible.
Treat parity as a band, not a magic target.

Interactive proof

Fair Value Tracker

Walk the quote through each layer and notice where assumptions enter the number.

COMEXlocal currency 67,620

Global gold reference translated into local currency/10g

FXlocal currency 68,140

FX layer lifts or compresses the local read

Costslocal currency 69,390

Duty, carry, and local assumptions form parity

local marketlocal currency 69,940

Live futures can trade rich or cheap to parity

Interactive desk lab

COMEX to local market Fair Value Bridge

A source-backed Gold Desk workbench for converting a COMEX gold reference into an estimated local market local currency per 10g fair value.

Native scroll

48s Remotion sceneFairValueBridgeVideo

COMEX to local market fair-value bridge

A global gold quote passes through FX, landed costs, and carry before becoming a local parity band.

Storyboard beats4 cues

COMEX quote enters as the global reference.

FX layer translates the quote into local currency.

Duty and carry layers stack into an local market parity band.

Live local market print lands above, inside, or below that band.

Remotion code

FairValueBridgeVideo

The snippet is stored with the lesson so a future Remotion project can render the chapter video.

Show component snippet

import {AbsoluteFill, Sequence, interpolate, useCurrentFrame} from "remotion";

export const FairValueBridgeVideo = () => {
  const frame = useCurrentFrame();
  const bridge = interpolate(frame, [0, 42], [0, 1], {
    extrapolateLeft: "clamp",
    extrapolateRight: "clamp",
  });

  return (
    <AbsoluteFill style={{background: "#f4f1e8", color: "#071126", padding: 72}}>
      <Sequence durationInFrames={42}>
        <h1 style={{fontSize: 58}}>COMEX is the reference, not the local trade.</h1>
      </Sequence>
      <Sequence from={36} durationInFrames={62}>
        <div style={{transform: "translateX(" + bridge * 420 + "px)"}}>COMEX -> USDINR -> costs -> MCX band</div>
      </Sequence>
      <Sequence from={96}>
        <p>Only then compare the live MCX print against parity.</p>
      </Sequence>
    </AbsoluteFill>
  );
};

Sources used for this tutorial

Gold contract specificationlocal marketlocal market unit, quotation basis, duty treatment, trading session, delivery and margin context.Gold Product OverviewCME GroupCOMEX gold contract basics and macro drivers such as FOMC, CPI/PPI, and payrolls.Hedging Risk with Gold futures and optionsCME GroupBasis, contango/backwardation, and fair-value math for gold futures.Disaggregated COT Explanatory NotesCFTCParticipant categories and the limits of aggregated weekly positioning data.Pivot Points, Resistance and SupportFidelityBeginner-safe explanation of pivot points as support/resistance references.Economic Indicators White PaperCME GroupWhy forecast error and event timing matter around scheduled macro releases.

Next step

Open the tool with the checklist beside you.

Move from the lesson into the matching Bullion Brains tool, keep the checklist visible, and treat the output as evidence until the caveats are clear.

Open Fair Value Tracker