Comparing two market averages can be misleading when one series contains dates that the other does not. For this review, we first summarized every available observation from October 15, 2025 through October 14, 2026, then separately compared only dates on which both SGE and MCX had a value.
One-year summary
| Series | n | Average | Median | Range |
|---|---|---|---|---|
| Gold SGE | 240 | 0.22% | 0.01% | −5.30% to 6.41% |
| Gold MCX | 257 | 10.21% | 7.55% | 2.68% to 18.80% |
| Silver SGE | 242 | 10.28% | 11.21% | −3.59% to 44.63% |
| Silver MCX | 257 | 12.83% | 9.90% | 1.47% to 28.32% |
The median is shown beside the average because a few large observations can pull the average upward. That effect is especially visible in silver SGE, where the maximum was 44.63% and the average sat below the median.
What changed after matching the dates
Gold had 237 paired dates. SGE was higher on only one of them. The average same-date difference, calculated as SGE minus MCX, was −9.95 percentage points; the median difference was −8.08 points.
Silver had 239 paired dates. SGE was higher on 68 dates. Its average same-date difference was −2.68 percentage points and its median difference was −4.25 points. The smaller average gap does not mean the two silver series tracked each other closely: their ranges and individual daily movements were still different.
What the comparison does not prove
These figures do not show that one exchange is permanently “more expensive.” The normalized prices can refer to different contracts, trading sessions and delivery terms. Taxes, financing, capital controls, local demand and the exact foreign-exchange timestamp can also affect the calculated gap. The site does not have enough information to assign each daily difference to one cause.
Why same-date pairing matters
Without pairing, an SGE holiday could remove a volatile day while MCX still contributes a value, or vice versa. Comparing all observations would then mix coverage differences with price differences. Pairing does not solve the contract and timestamp issues, but it removes one avoidable source of distortion.
Method and limits
We kept finite premium values in the one-year history response. The summary table uses all available observations for each series. The paired section uses only rows containing both SGE and MCX. Values are descriptive, unweighted and not seasonally adjusted. Repeated values around closures can remain in the stored history, so the rows should not be treated as independent samples or as a trading signal.
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