{
  "snapshot": {
    "date": "2026-07-04",
    "fetched_at": "2026-07-04T02:56:00.444Z",
    "total_market_cap_usd": 5206045668,
    "constituents_count": 21,
    "missing_count": 3,
    "constituents": [
      {
        "id": "tether-gold",
        "symbol": "XAUT",
        "name": "Tether Gold",
        "metal": "gold",
        "market_cap_usd": 2547336781,
        "price_usd": 4156.72,
        "volume_24h_usd": 82061646,
        "missing": false,
        "weight_pct": 48.93035796166205
      },
      {
        "id": "pax-gold",
        "symbol": "PAXG",
        "name": "PAX Gold",
        "metal": "gold",
        "market_cap_usd": 1880461462,
        "price_usd": 4158.93,
        "volume_24h_usd": 90885952,
        "missing": false,
        "weight_pct": 36.12072543962939
      },
      {
        "id": "kinesis-gold",
        "symbol": "KAU",
        "name": "Kinesis Gold",
        "metal": "gold",
        "market_cap_usd": 322320453,
        "price_usd": 135.08,
        "volume_24h_usd": 10863.48,
        "missing": false,
        "weight_pct": 6.191272100842431
      },
      {
        "id": "kinesis-silver",
        "symbol": "KAG",
        "name": "Kinesis Silver",
        "metal": "silver",
        "market_cap_usd": 225643350,
        "price_usd": 59.94,
        "volume_24h_usd": 371719,
        "missing": false,
        "weight_pct": 4.334256062849428
      },
      {
        "id": "pleasing-gold",
        "symbol": "PGOLD",
        "name": "Pleasing Gold",
        "metal": "gold",
        "market_cap_usd": 80352829,
        "price_usd": 4119.59,
        "volume_24h_usd": 2.21,
        "missing": false,
        "weight_pct": 1.5434522500235586
      },
      {
        "id": "matrixdock-gold",
        "symbol": "XAUM",
        "name": "Matrixdock Gold",
        "metal": "gold",
        "market_cap_usd": 67413060,
        "price_usd": 4127.89,
        "volume_24h_usd": 530132,
        "missing": false,
        "weight_pct": 1.2948995129713872
      },
      {
        "id": "goldfish-gold",
        "symbol": "GGBR",
        "name": "Goldfish Gold",
        "metal": "gold",
        "market_cap_usd": 32112160,
        "price_usd": 4.17,
        "volume_24h_usd": 118711,
        "missing": false,
        "weight_pct": 0.6168244008573304
      },
      {
        "id": "streamex-gldy",
        "symbol": "GLDY",
        "name": "Streamex GLDY",
        "metal": "gold",
        "market_cap_usd": 12825648,
        "price_usd": 4167.25,
        "volume_24h_usd": 0,
        "missing": false,
        "weight_pct": 0.2463606510183998
      },
      {
        "id": "uranium",
        "symbol": "XU3O8",
        "name": "Uranium³O₈",
        "metal": "uranium",
        "market_cap_usd": 8497656,
        "price_usd": 5.31,
        "volume_24h_usd": 565301,
        "missing": false,
        "weight_pct": 0.16322668954351555
      },
      {
        "id": "gold-token-sa-dgld-tokenized-gold",
        "symbol": "DGLD",
        "name": "Gold Token SA DGLD",
        "metal": "gold",
        "market_cap_usd": 8340756,
        "price_usd": 4160.3,
        "volume_24h_usd": 18.58,
        "missing": false,
        "weight_pct": 0.16021288578523474
      },
      {
        "id": "vnx-gold",
        "symbol": "VNXAU",
        "name": "VNX Gold",
        "metal": "gold",
        "market_cap_usd": 5589803,
        "price_usd": 126.75,
        "volume_24h_usd": 31196,
        "missing": false,
        "weight_pct": 0.10737137851784208
      },
      {
        "id": "comtech-gold",
        "symbol": "CGO",
        "name": "Comtech Gold",
        "metal": "gold",
        "market_cap_usd": 5183089,
        "price_usd": 132.9,
        "volume_24h_usd": 857078,
        "missing": false,
        "weight_pct": 0.0995590382900191
      },
      {
        "id": "matrixdock-silver",
        "symbol": "XAGM",
        "name": "Matrixdock Silver",
        "metal": "silver",
        "market_cap_usd": 4161551,
        "price_usd": 63.07,
        "volume_24h_usd": 6871.48,
        "missing": false,
        "weight_pct": 0.07993689001961325
      },
      {
        "id": "gold-dao",
        "symbol": "GOLDAO",
        "name": "Gold DAO",
        "metal": "gold",
        "market_cap_usd": 1999030,
        "price_usd": 0.00294706,
        "volume_24h_usd": 392.5,
        "missing": false,
        "weight_pct": 0.038398241726680146
      },
      {
        "id": "kinka",
        "symbol": "XNK",
        "name": "Kinka",
        "metal": "gold",
        "market_cap_usd": 2004249,
        "price_usd": 4158.19,
        "volume_24h_usd": 88653,
        "missing": false,
        "weight_pct": 0.03849849055914967
      },
      {
        "id": "gold-token",
        "symbol": "GLDT",
        "name": "Gold Token",
        "metal": "gold",
        "market_cap_usd": 650486,
        "price_usd": 1.094,
        "volume_24h_usd": 518.02,
        "missing": false,
        "weight_pct": 0.01249481932128145
      },
      {
        "id": "gold-fgld-finest-tokenized-gold",
        "symbol": "FGLD",
        "name": "fGLD",
        "metal": "gold",
        "market_cap_usd": 195305,
        "price_usd": 126.66,
        "volume_24h_usd": 379.97,
        "missing": false,
        "weight_pct": 0.003751503779547713
      },
      {
        "id": "tenbin-gold",
        "symbol": "TGLD",
        "name": "Tenbin Gold",
        "metal": "gold",
        "market_cap_usd": 958000,
        "price_usd": 4167.58,
        "volume_24h_usd": 21.03,
        "missing": false,
        "weight_pct": 0.018401682603142313
      },
      {
        "id": "cobalt-xco",
        "symbol": "xCo",
        "name": "Trilitech Cobalt",
        "metal": "cobalt",
        "market_cap_usd": 0,
        "price_usd": 0,
        "volume_24h_usd": 0,
        "missing": true,
        "weight_pct": 0
      },
      {
        "id": "nickel-xni",
        "symbol": "xNi",
        "name": "Trilitech Nickel",
        "metal": "nickel",
        "market_cap_usd": 0,
        "price_usd": 0,
        "volume_24h_usd": 0,
        "missing": true,
        "weight_pct": 0
      },
      {
        "id": "rare-earths-basket-rare",
        "symbol": "RARE",
        "name": "Noemon Rare Earths Basket",
        "metal": "rare-earths",
        "market_cap_usd": 0,
        "price_usd": 0,
        "volume_24h_usd": 0,
        "missing": true,
        "weight_pct": 0
      }
    ]
  },
  "index": {
    "gmri": 99.15,
    "gmri_ew": 98.1,
    "base_total_mcap": 5250675836,
    "today_total_mcap": 5206045668,
    "active_constituents": 18,
    "universe_size": 21,
    "family": {
      "live": {
        "TS-GMRI-EW": {
          "code": "TS-GMRI-EW",
          "name": "TS-GMRI Equal-Weighted",
          "n": 18,
          "value": 98.1,
          "notes": "Each active constituent weighted 1/N at base."
        },
        "TS-GMRI-CAP20": {
          "code": "TS-GMRI-CAP20",
          "name": "TS-GMRI Issuer-Capped 20%",
          "n": 18,
          "value": 103.73,
          "notes": "Single-issuer weight capped at 20%; excess pro-rata to uncapped. Unverified issuers treated standalone."
        },
        "TS-GMRI-AU": {
          "code": "TS-GMRI-AU",
          "name": "TS-GMRI Gold",
          "n": 15,
          "value": 99.63,
          "notes": "Subset: tokens backed by physical gold."
        },
        "TS-GMRI-PRE": {
          "code": "TS-GMRI-PRE",
          "name": "TS-GMRI Precious",
          "n": 17,
          "value": 99.15,
          "notes": "Subset: gold + silver + platinum + palladium."
        },
        "TS-GMRI-AG": {
          "code": "TS-GMRI-AG",
          "name": "TS-GMRI Silver",
          "n": 2,
          "value": 89.76,
          "notes": "Subset: tokens backed by physical silver."
        }
      },
      "slots": [
        {
          "code": "TS-GMRI-BASE",
          "name": "TS-GMRI Base Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "No live retail tokens for base metals as of base date. Methodology slot registered for prior art."
        },
        {
          "code": "TS-GMRI-BTR",
          "name": "TS-GMRI Battery Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Battery metals are the dominant narrative in commodity tokenization (energy transition, EV supply chain). No live retail tokens as of base date 22 June 2026. Methodology registered for prior art."
        },
        {
          "code": "TS-GMRI-FE",
          "name": "TS-GMRI Bulk Ferrous",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Iron ore is the largest mined commodity by volume globally. Tokenization pilots discussed (e.g. SGX, Comex) but no live retail tokens at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-CRT",
          "name": "TS-GMRI Critical Materials",
          "n": 1,
          "threshold": 3,
          "status": "Active constituents: 1. Publish threshold: N>=3.",
          "reason": "4 eligible constituents (XU3O8 uranium concentrate, xCo Trilitech cobalt, xNi Trilitech nickel, RARE Noemon rare-earths basket). 2 distinct issuers (Uranium Digital, Trilitech + Noemon via metals.io). Threshold met on 2026-07-02 after Trilitech xCo/xNi launch (25 June 2026) and RARE basket inclusion."
        },
        {
          "code": "TS-GMRI-FA",
          "name": "TS-GMRI Ferroalloys",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Ferroalloys are essential steelmaking inputs but trade physically. No live retail tokens at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-LT",
          "name": "TS-GMRI Light Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Light metals overlap partially with base metals (Al) and critical (Ti, Be). Dedicated slot allows aerospace/EV body-panel narrative segmentation. No live retail tokens at base date."
        },
        {
          "code": "TS-GMRI-MN",
          "name": "TS-GMRI Minor Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Minor metals trade thinly, often as by-products. No retail tokenization exists at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-REF",
          "name": "TS-GMRI Refractory Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Refractory metals are strategic for high-temperature alloys and electronics. No live retail tokens at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-STL",
          "name": "TS-GMRI Steel",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Steel is the most produced metal globally. SGX iron-ore-linked products and limited steel futures exist; no live retail tokenization at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-JUR",
          "name": "TS-GMRI by Jurisdiction",
          "threshold_per_jurisdiction": 2,
          "max_verified_per_jurisdiction": 1,
          "status": "CH-vault/BVI-issuer: 1 verified issuer(s); US-NYDFS: 1 verified issuer(s); KY/LI: 1 verified issuer(s); SG: 1 verified issuer(s); LI: 1 verified issuer(s); AE-Dubai: 1 verified issuer(s)",
          "reason": "Awaiting issuer diversification — current map has 1 verified issuer per jurisdiction. Publish threshold: >=2 verified issuers per jurisdiction."
        }
      ]
    },
    "per_token": [
      {
        "symbol": "XAUT",
        "metal": "gold",
        "base_mcap": 2566854319,
        "today_mcap": 2547336781,
        "base_price": 4188.1,
        "today_price": 4156.72,
        "return_pct": -0.7603679669520025
      },
      {
        "symbol": "PAXG",
        "metal": "gold",
        "base_mcap": 1906909991,
        "today_mcap": 1880461462,
        "base_price": 4195.65,
        "today_price": 4158.93,
        "return_pct": -1.3869836082892495
      },
      {
        "symbol": "KAU",
        "metal": "gold",
        "base_mcap": 306789740,
        "today_mcap": 322320453,
        "base_price": 128.57,
        "today_price": 135.08,
        "return_pct": 5.062331289175437
      },
      {
        "symbol": "KAG",
        "metal": "silver",
        "base_mcap": 251575935,
        "today_mcap": 225643350,
        "base_price": 66.61,
        "today_price": 59.94,
        "return_pct": -10.308054703244963
      },
      {
        "symbol": "PGOLD",
        "metal": "gold",
        "base_mcap": 81230358,
        "today_mcap": 80352829,
        "base_price": 4164.58,
        "today_price": 4119.59,
        "return_pct": -1.080296851578566
      },
      {
        "symbol": "XAUM",
        "metal": "gold",
        "base_mcap": 64218820,
        "today_mcap": 67413060,
        "base_price": 4179.21,
        "today_price": 4127.89,
        "return_pct": 4.973993604989935
      },
      {
        "symbol": "GGBR",
        "metal": "gold",
        "base_mcap": 24140660,
        "today_mcap": 32112160,
        "base_price": 4.2,
        "today_price": 4.17,
        "return_pct": 33.02105244844176
      },
      {
        "symbol": "GLDY",
        "metal": "gold",
        "base_mcap": 12937920,
        "today_mcap": 12825648,
        "base_price": 4203.73,
        "today_price": 4167.25,
        "return_pct": -0.8677747273131975
      },
      {
        "symbol": "XU3O8",
        "metal": "uranium",
        "base_mcap": 8605983,
        "today_mcap": 8497656,
        "base_price": 5.37,
        "today_price": 5.31,
        "return_pct": -1.2587405761782189
      },
      {
        "symbol": "DGLD",
        "metal": "gold",
        "base_mcap": 6703870,
        "today_mcap": 8340756,
        "base_price": 4180.29,
        "today_price": 4160.3,
        "return_pct": 24.417030759844693
      },
      {
        "symbol": "VNXAU",
        "metal": "gold",
        "base_mcap": 5953992,
        "today_mcap": 5589803,
        "base_price": 135.15,
        "today_price": 126.75,
        "return_pct": -6.116719673120152
      },
      {
        "symbol": "CGO",
        "metal": "gold",
        "base_mcap": 5275580,
        "today_mcap": 5183089,
        "base_price": 135.27,
        "today_price": 132.9,
        "return_pct": -1.753191118322539
      },
      {
        "symbol": "XAGM",
        "metal": "silver",
        "base_mcap": 4433126,
        "today_mcap": 4161551,
        "base_price": 67.18,
        "today_price": 63.07,
        "return_pct": -6.126038375629294
      },
      {
        "symbol": "XNK",
        "metal": "gold",
        "base_mcap": 2026773,
        "today_mcap": 2004249,
        "base_price": 4204.92,
        "today_price": 4158.19,
        "return_pct": -1.1113232710323273
      },
      {
        "symbol": "GOLDAO",
        "metal": "gold",
        "base_mcap": 2037734,
        "today_mcap": 1999030,
        "base_price": 0.00300412,
        "today_price": 0.00294706,
        "return_pct": -1.8993646864605473
      },
      {
        "symbol": "TGLD",
        "metal": "gold",
        "base_mcap": 74886,
        "today_mcap": 958000,
        "base_price": 3793.5,
        "today_price": 4167.58,
        "return_pct": 1179.2778356435115
      },
      {
        "symbol": "GLDT",
        "metal": "gold",
        "base_mcap": 692969,
        "today_mcap": 650486,
        "base_price": 1.17,
        "today_price": 1.094,
        "return_pct": -6.130577269690274
      },
      {
        "symbol": "FGLD",
        "metal": "gold",
        "base_mcap": 213180,
        "today_mcap": 195305,
        "base_price": 138.25,
        "today_price": 126.66,
        "return_pct": -8.384932920536636
      }
    ],
    "date": "2026-07-04",
    "fetched_at": "2026-07-04T02:56:00.444Z",
    "base_date": "2026-06-22",
    "base_value": 100
  }
}