{
  "snapshot": {
    "date": "2026-07-07",
    "fetched_at": "2026-07-07T03:24:55.991Z",
    "total_market_cap_usd": 5173308358,
    "constituents_count": 21,
    "missing_count": 3,
    "constituents": [
      {
        "id": "tether-gold",
        "symbol": "XAUT",
        "name": "Tether Gold",
        "metal": "gold",
        "market_cap_usd": 2529044865,
        "price_usd": 4126.4,
        "volume_24h_usd": 113004699,
        "missing": false,
        "weight_pct": 48.88641252341139
      },
      {
        "id": "pax-gold",
        "symbol": "PAXG",
        "name": "PAX Gold",
        "metal": "gold",
        "market_cap_usd": 1866969941,
        "price_usd": 4128.66,
        "volume_24h_usd": 101072416,
        "missing": false,
        "weight_pct": 36.08851071312846
      },
      {
        "id": "kinesis-gold",
        "symbol": "KAU",
        "name": "Kinesis Gold",
        "metal": "gold",
        "market_cap_usd": 315087446,
        "price_usd": 132.04,
        "volume_24h_usd": 22417,
        "missing": false,
        "weight_pct": 6.090637251745279
      },
      {
        "id": "kinesis-silver",
        "symbol": "KAG",
        "name": "Kinesis Silver",
        "metal": "silver",
        "market_cap_usd": 232389755,
        "price_usd": 61.53,
        "volume_24h_usd": 170570,
        "missing": false,
        "weight_pct": 4.492091692942151
      },
      {
        "id": "pleasing-gold",
        "symbol": "PGOLD",
        "name": "Pleasing Gold",
        "metal": "gold",
        "market_cap_usd": 80536282,
        "price_usd": 4129,
        "volume_24h_usd": 2.31,
        "missing": false,
        "weight_pct": 1.5567655439571615
      },
      {
        "id": "matrixdock-gold",
        "symbol": "XAUM",
        "name": "Matrixdock Gold",
        "metal": "gold",
        "market_cap_usd": 66594934,
        "price_usd": 4077.78,
        "volume_24h_usd": 889253,
        "missing": false,
        "weight_pct": 1.2872794233697213
      },
      {
        "id": "goldfish-gold",
        "symbol": "GGBR",
        "name": "Goldfish Gold",
        "metal": "gold",
        "market_cap_usd": 31888150,
        "price_usd": 4.14,
        "volume_24h_usd": 119887,
        "missing": false,
        "weight_pct": 0.6163976278484964
      },
      {
        "id": "streamex-gldy",
        "symbol": "GLDY",
        "name": "Streamex GLDY",
        "metal": "gold",
        "market_cap_usd": 12710584,
        "price_usd": 4129.86,
        "volume_24h_usd": 0,
        "missing": false,
        "weight_pct": 0.24569546449602916
      },
      {
        "id": "uranium",
        "symbol": "XU3O8",
        "name": "Uranium³O₈",
        "metal": "uranium",
        "market_cap_usd": 8525580,
        "price_usd": 5.33,
        "volume_24h_usd": 564322,
        "missing": false,
        "weight_pct": 0.1647993780772037
      },
      {
        "id": "gold-token-sa-dgld-tokenized-gold",
        "symbol": "DGLD",
        "name": "Gold Token SA DGLD",
        "metal": "gold",
        "market_cap_usd": 8303025,
        "price_usd": 4141.56,
        "volume_24h_usd": 18979.92,
        "missing": false,
        "weight_pct": 0.16049739210229386
      },
      {
        "id": "vnx-gold",
        "symbol": "VNXAU",
        "name": "VNX Gold",
        "metal": "gold",
        "market_cap_usd": 5965226,
        "price_usd": 135.26,
        "volume_24h_usd": 76753,
        "missing": false,
        "weight_pct": 0.11530776028023497
      },
      {
        "id": "comtech-gold",
        "symbol": "CGO",
        "name": "Comtech Gold",
        "metal": "gold",
        "market_cap_usd": 5185288,
        "price_usd": 132.96,
        "volume_24h_usd": 875675,
        "missing": false,
        "weight_pct": 0.10023156636277972
      },
      {
        "id": "matrixdock-silver",
        "symbol": "XAGM",
        "name": "Matrixdock Silver",
        "metal": "silver",
        "market_cap_usd": 4153115,
        "price_usd": 62.93,
        "volume_24h_usd": 1479.93,
        "missing": false,
        "weight_pct": 0.08027967236048526
      },
      {
        "id": "gold-dao",
        "symbol": "GOLDAO",
        "name": "Gold DAO",
        "metal": "gold",
        "market_cap_usd": 2068334,
        "price_usd": 0.00304923,
        "volume_24h_usd": 579.6,
        "missing": false,
        "weight_pct": 0.03998087600561312
      },
      {
        "id": "kinka",
        "symbol": "XNK",
        "name": "Kinka",
        "metal": "gold",
        "market_cap_usd": 1990366,
        "price_usd": 4129.39,
        "volume_24h_usd": 78946,
        "missing": false,
        "weight_pct": 0.03847375532761545
      },
      {
        "id": "gold-token",
        "symbol": "GLDT",
        "name": "Gold Token",
        "metal": "gold",
        "market_cap_usd": 644410,
        "price_usd": 1.084,
        "volume_24h_usd": 192.98,
        "missing": false,
        "weight_pct": 0.012456439002007002
      },
      {
        "id": "gold-fgld-finest-tokenized-gold",
        "symbol": "FGLD",
        "name": "fGLD",
        "metal": "gold",
        "market_cap_usd": 193031,
        "price_usd": 125.18,
        "volume_24h_usd": 750.88,
        "missing": false,
        "weight_pct": 0.0037312873434558955
      },
      {
        "id": "tenbin-gold",
        "symbol": "TGLD",
        "name": "Tenbin Gold",
        "metal": "gold",
        "market_cap_usd": 1058026,
        "price_usd": 4167.58,
        "volume_24h_usd": 21.03,
        "missing": false,
        "weight_pct": 0.020451632239626108
      },
      {
        "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": 98.53,
    "gmri_ew": 98.26,
    "base_total_mcap": 5250675836,
    "today_total_mcap": 5173308358,
    "active_constituents": 18,
    "universe_size": 21,
    "family": {
      "live": {
        "TS-GMRI-EW": {
          "code": "TS-GMRI-EW",
          "name": "TS-GMRI Equal-Weighted",
          "n": 18,
          "value": 98.26,
          "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": 103.68,
          "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": 98.84,
          "notes": "Subset: tokens backed by physical gold."
        },
        "TS-GMRI-PRE": {
          "code": "TS-GMRI-PRE",
          "name": "TS-GMRI Precious",
          "n": 17,
          "value": 98.53,
          "notes": "Subset: gold + silver + platinum + palladium."
        },
        "TS-GMRI-AG": {
          "code": "TS-GMRI-AG",
          "name": "TS-GMRI Silver",
          "n": 2,
          "value": 92.4,
          "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": 2529044865,
        "base_price": 4188.1,
        "today_price": 4126.4,
        "return_pct": -1.4729879183299266
      },
      {
        "symbol": "PAXG",
        "metal": "gold",
        "base_mcap": 1906909991,
        "today_mcap": 1866969941,
        "base_price": 4195.65,
        "today_price": 4128.66,
        "return_pct": -2.0944905731525965
      },
      {
        "symbol": "KAU",
        "metal": "gold",
        "base_mcap": 306789740,
        "today_mcap": 315087446,
        "base_price": 128.57,
        "today_price": 132.04,
        "return_pct": 2.704688233706909
      },
      {
        "symbol": "KAG",
        "metal": "silver",
        "base_mcap": 251575935,
        "today_mcap": 232389755,
        "base_price": 66.61,
        "today_price": 61.53,
        "return_pct": -7.626397175071609
      },
      {
        "symbol": "PGOLD",
        "metal": "gold",
        "base_mcap": 81230358,
        "today_mcap": 80536282,
        "base_price": 4164.58,
        "today_price": 4129,
        "return_pct": -0.8544539468852252
      },
      {
        "symbol": "XAUM",
        "metal": "gold",
        "base_mcap": 64218820,
        "today_mcap": 66594934,
        "base_price": 4179.21,
        "today_price": 4077.78,
        "return_pct": 3.70002749972671
      },
      {
        "symbol": "GGBR",
        "metal": "gold",
        "base_mcap": 24140660,
        "today_mcap": 31888150,
        "base_price": 4.2,
        "today_price": 4.14,
        "return_pct": 32.09311592972188
      },
      {
        "symbol": "GLDY",
        "metal": "gold",
        "base_mcap": 12937920,
        "today_mcap": 12710584,
        "base_price": 4203.73,
        "today_price": 4129.86,
        "return_pct": -1.7571294303875717
      },
      {
        "symbol": "XU3O8",
        "metal": "uranium",
        "base_mcap": 8605983,
        "today_mcap": 8525580,
        "base_price": 5.37,
        "today_price": 5.33,
        "return_pct": -0.9342686361337171
      },
      {
        "symbol": "DGLD",
        "metal": "gold",
        "base_mcap": 6703870,
        "today_mcap": 8303025,
        "base_price": 4180.29,
        "today_price": 4141.56,
        "return_pct": 23.854206600068316
      },
      {
        "symbol": "VNXAU",
        "metal": "gold",
        "base_mcap": 5953992,
        "today_mcap": 5965226,
        "base_price": 135.15,
        "today_price": 135.26,
        "return_pct": 0.18868013259003558
      },
      {
        "symbol": "CGO",
        "metal": "gold",
        "base_mcap": 5275580,
        "today_mcap": 5185288,
        "base_price": 135.27,
        "today_price": 132.96,
        "return_pct": -1.7115084976438655
      },
      {
        "symbol": "XAGM",
        "metal": "silver",
        "base_mcap": 4433126,
        "today_mcap": 4153115,
        "base_price": 67.18,
        "today_price": 62.93,
        "return_pct": -6.316332989407469
      },
      {
        "symbol": "GOLDAO",
        "metal": "gold",
        "base_mcap": 2037734,
        "today_mcap": 2068334,
        "base_price": 0.00300412,
        "today_price": 0.00304923,
        "return_pct": 1.5016680292913698
      },
      {
        "symbol": "XNK",
        "metal": "gold",
        "base_mcap": 2026773,
        "today_mcap": 1990366,
        "base_price": 4204.92,
        "today_price": 4129.39,
        "return_pct": -1.7963037794563097
      },
      {
        "symbol": "TGLD",
        "metal": "gold",
        "base_mcap": 74886,
        "today_mcap": 1058026,
        "base_price": 3793.5,
        "today_price": 4167.58,
        "return_pct": 1312.8488636060144
      },
      {
        "symbol": "GLDT",
        "metal": "gold",
        "base_mcap": 692969,
        "today_mcap": 644410,
        "base_price": 1.17,
        "today_price": 1.084,
        "return_pct": -7.0073841687001925
      },
      {
        "symbol": "FGLD",
        "metal": "gold",
        "base_mcap": 213180,
        "today_mcap": 193031,
        "base_price": 138.25,
        "today_price": 125.18,
        "return_pct": -9.451637114175815
      }
    ],
    "date": "2026-07-07",
    "fetched_at": "2026-07-07T03:24:55.991Z",
    "base_date": "2026-06-22",
    "base_value": 100
  }
}