India, Jan. 30 -- Every day, you will notice gold and silver prices flashing on screens, in newspapers and outside jewelry stores but for the average consumer, such prices seem remote and confusing. What drives the prices from one day to another?Why is the same metal costlier in one place than in another? Why does the price tag on the shelf appear so much higher than the market price?The explanation for this complex pricing matrix is in the web of international trade, currency fluctuations, government regulations and local market factors. Understanding this complex is important for investors, traders, and consumers alike.

This multi-step process explains why the final retail price differs from the global quote.

Gold and silver prices va...