Here is a simple example from Mr Jayant Manglik (Religare Online) explaining how the impact of Change in Comex Gold Price impacts domestic Gold Rates (if USDINR rates are assumed to be constant). He also discuss how USDINR movement affects MCX Gold rates keeping Comex Gold rates as constant. Useful video must for the begineers to understand the dynamics of the commodity market.
Effect of Comex Gold Rate on Domestic Gold Prices
Effect of USDINR Exchange Rate on Domestic Gold Prices