{
  "snapshot": {
    "date": "2026-07-22",
    "fetched_at": "2026-07-22T02:39:11.901Z",
    "total_market_cap_usd": 5140844478,
    "constituents_count": 21,
    "missing_count": 3,
    "constituents": [
      {
        "id": "tether-gold",
        "symbol": "XAUT",
        "name": "Tether Gold",
        "metal": "gold",
        "market_cap_usd": 2522938776,
        "price_usd": 4116.81,
        "volume_24h_usd": 196311304,
        "missing": false,
        "weight_pct": 49.076348969450386
      },
      {
        "id": "pax-gold",
        "symbol": "PAXG",
        "name": "PAX Gold",
        "metal": "gold",
        "market_cap_usd": 1847624350,
        "price_usd": 4115.98,
        "volume_24h_usd": 130673370,
        "missing": false,
        "weight_pct": 35.94009423756779
      },
      {
        "id": "kinesis-gold",
        "symbol": "KAU",
        "name": "Kinesis Gold",
        "metal": "gold",
        "market_cap_usd": 315827613,
        "price_usd": 132.35,
        "volume_24h_usd": 36172,
        "missing": false,
        "weight_pct": 6.143496741665095
      },
      {
        "id": "kinesis-silver",
        "symbol": "KAG",
        "name": "Kinesis Silver",
        "metal": "silver",
        "market_cap_usd": 225604161,
        "price_usd": 59.73,
        "volume_24h_usd": 849823,
        "missing": false,
        "weight_pct": 4.38846500736333
      },
      {
        "id": "pleasing-gold",
        "symbol": "PGOLD",
        "name": "Pleasing Gold",
        "metal": "gold",
        "market_cap_usd": 79205740,
        "price_usd": 4064.76,
        "volume_24h_usd": 7.99,
        "missing": false,
        "weight_pct": 1.5407145720699627
      },
      {
        "id": "matrixdock-gold",
        "symbol": "XAUM",
        "name": "Matrixdock Gold",
        "metal": "gold",
        "market_cap_usd": 67330669,
        "price_usd": 4122.83,
        "volume_24h_usd": 325007,
        "missing": false,
        "weight_pct": 1.3097200136697074
      },
      {
        "id": "goldfish-gold",
        "symbol": "GGBR",
        "name": "Goldfish Gold",
        "metal": "gold",
        "market_cap_usd": 31649978,
        "price_usd": 4.11,
        "volume_24h_usd": 128128,
        "missing": false,
        "weight_pct": 0.615657177248691
      },
      {
        "id": "streamex-gldy",
        "symbol": "GLDY",
        "name": "Streamex GLDY",
        "metal": "gold",
        "market_cap_usd": 12684700,
        "price_usd": 4121.45,
        "volume_24h_usd": 0,
        "missing": false,
        "weight_pct": 0.24674350788637103
      },
      {
        "id": "uranium",
        "symbol": "XU3O8",
        "name": "Uranium³O₈",
        "metal": "uranium",
        "market_cap_usd": 8569620,
        "price_usd": 5.36,
        "volume_24h_usd": 491798,
        "missing": false,
        "weight_pct": 0.16669673701807713
      },
      {
        "id": "gold-token-sa-dgld-tokenized-gold",
        "symbol": "DGLD",
        "name": "Gold Token SA DGLD",
        "metal": "gold",
        "market_cap_usd": 8204172,
        "price_usd": 4092.27,
        "volume_24h_usd": 29194,
        "missing": false,
        "weight_pct": 0.1595880216783325
      },
      {
        "id": "vnx-gold",
        "symbol": "VNXAU",
        "name": "VNX Gold",
        "metal": "gold",
        "market_cap_usd": 5729599,
        "price_usd": 129.92,
        "volume_24h_usd": 10776.1,
        "missing": false,
        "weight_pct": 0.11145248654223147
      },
      {
        "id": "comtech-gold",
        "symbol": "CGO",
        "name": "Comtech Gold",
        "metal": "gold",
        "market_cap_usd": 5166414,
        "price_usd": 132.47,
        "volume_24h_usd": 873530,
        "missing": false,
        "weight_pct": 0.10049737980033092
      },
      {
        "id": "matrixdock-silver",
        "symbol": "XAGM",
        "name": "Matrixdock Silver",
        "metal": "silver",
        "market_cap_usd": 4103504,
        "price_usd": 62.18,
        "volume_24h_usd": 26183,
        "missing": false,
        "weight_pct": 0.07982159385604351
      },
      {
        "id": "gold-dao",
        "symbol": "GOLDAO",
        "name": "Gold DAO",
        "metal": "gold",
        "market_cap_usd": 2339059,
        "price_usd": 0.00344834,
        "volume_24h_usd": 454.89,
        "missing": false,
        "weight_pct": 0.04549950907890507
      },
      {
        "id": "kinka",
        "symbol": "XNK",
        "name": "Kinka",
        "metal": "gold",
        "market_cap_usd": 1983873,
        "price_usd": 4115.92,
        "volume_24h_usd": 71419,
        "missing": false,
        "weight_pct": 0.038590410748465365
      },
      {
        "id": "gold-token",
        "symbol": "GLDT",
        "name": "Gold Token",
        "metal": "gold",
        "market_cap_usd": 619446,
        "price_usd": 1.042,
        "volume_24h_usd": 32.23,
        "missing": false,
        "weight_pct": 0.012049498922811024
      },
      {
        "id": "gold-fgld-finest-tokenized-gold",
        "symbol": "FGLD",
        "name": "fGLD",
        "metal": "gold",
        "market_cap_usd": 203283,
        "price_usd": 131.83,
        "volume_24h_usd": 131.83,
        "missing": false,
        "weight_pct": 0.003954272510478384
      },
      {
        "id": "tenbin-gold",
        "symbol": "TGLD",
        "name": "Tenbin Gold",
        "metal": "gold",
        "market_cap_usd": 1059521,
        "price_usd": 4101.48,
        "volume_24h_usd": 34.89,
        "missing": false,
        "weight_pct": 0.02060986292299193
      },
      {
        "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": 97.91,
    "gmri_ew": 98.37,
    "base_total_mcap": 5250675836,
    "today_total_mcap": 5140844478,
    "active_constituents": 18,
    "universe_size": 21,
    "family": {
      "live": {
        "TS-GMRI-EW": {
          "code": "TS-GMRI-EW",
          "name": "TS-GMRI Equal-Weighted",
          "n": 18,
          "value": 98.37,
          "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": 103.1,
          "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": 98.33,
          "notes": "Subset: tokens backed by physical gold."
        },
        "TS-GMRI-PRE": {
          "code": "TS-GMRI-PRE",
          "name": "TS-GMRI Precious",
          "n": 17,
          "value": 97.91,
          "notes": "Subset: gold + silver + platinum + palladium."
        },
        "TS-GMRI-AG": {
          "code": "TS-GMRI-AG",
          "name": "TS-GMRI Silver",
          "n": 2,
          "value": 89.73,
          "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": 2522938776,
        "base_price": 4188.1,
        "today_price": 4116.81,
        "return_pct": -1.7108700978834213
      },
      {
        "symbol": "PAXG",
        "metal": "gold",
        "base_mcap": 1906909991,
        "today_mcap": 1847624350,
        "base_price": 4195.65,
        "today_price": 4115.98,
        "return_pct": -3.1089900037132856
      },
      {
        "symbol": "KAU",
        "metal": "gold",
        "base_mcap": 306789740,
        "today_mcap": 315827613,
        "base_price": 128.57,
        "today_price": 132.35,
        "return_pct": 2.9459502133285076
      },
      {
        "symbol": "KAG",
        "metal": "silver",
        "base_mcap": 251575935,
        "today_mcap": 225604161,
        "base_price": 66.61,
        "today_price": 59.73,
        "return_pct": -10.323632107339675
      },
      {
        "symbol": "PGOLD",
        "metal": "gold",
        "base_mcap": 81230358,
        "today_mcap": 79205740,
        "base_price": 4164.58,
        "today_price": 4064.76,
        "return_pct": -2.492440080099123
      },
      {
        "symbol": "XAUM",
        "metal": "gold",
        "base_mcap": 64218820,
        "today_mcap": 67330669,
        "base_price": 4179.21,
        "today_price": 4122.83,
        "return_pct": 4.845696323912518
      },
      {
        "symbol": "GGBR",
        "metal": "gold",
        "base_mcap": 24140660,
        "today_mcap": 31649978,
        "base_price": 4.2,
        "today_price": 4.11,
        "return_pct": 31.106514900586802
      },
      {
        "symbol": "GLDY",
        "metal": "gold",
        "base_mcap": 12937920,
        "today_mcap": 12684700,
        "base_price": 4203.73,
        "today_price": 4121.45,
        "return_pct": -1.9571925008038393
      },
      {
        "symbol": "XU3O8",
        "metal": "uranium",
        "base_mcap": 8605983,
        "today_mcap": 8569620,
        "base_price": 5.37,
        "today_price": 5.36,
        "return_pct": -0.42253162712498904
      },
      {
        "symbol": "DGLD",
        "metal": "gold",
        "base_mcap": 6703870,
        "today_mcap": 8204172,
        "base_price": 4180.29,
        "today_price": 4092.27,
        "return_pct": 22.379640416654855
      },
      {
        "symbol": "VNXAU",
        "metal": "gold",
        "base_mcap": 5953992,
        "today_mcap": 5729599,
        "base_price": 135.15,
        "today_price": 129.92,
        "return_pct": -3.768782356442535
      },
      {
        "symbol": "CGO",
        "metal": "gold",
        "base_mcap": 5275580,
        "today_mcap": 5166414,
        "base_price": 135.27,
        "today_price": 132.47,
        "return_pct": -2.0692701086894694
      },
      {
        "symbol": "XAGM",
        "metal": "silver",
        "base_mcap": 4433126,
        "today_mcap": 4103504,
        "base_price": 67.18,
        "today_price": 62.18,
        "return_pct": -7.435430438927293
      },
      {
        "symbol": "GOLDAO",
        "metal": "gold",
        "base_mcap": 2037734,
        "today_mcap": 2339059,
        "base_price": 0.00300412,
        "today_price": 0.00344834,
        "return_pct": 14.787258788438539
      },
      {
        "symbol": "XNK",
        "metal": "gold",
        "base_mcap": 2026773,
        "today_mcap": 1983873,
        "base_price": 4204.92,
        "today_price": 4115.92,
        "return_pct": -2.116665260490447
      },
      {
        "symbol": "TGLD",
        "metal": "gold",
        "base_mcap": 74886,
        "today_mcap": 1059521,
        "base_price": 3793.5,
        "today_price": 4101.48,
        "return_pct": 1314.8452314184226
      },
      {
        "symbol": "GLDT",
        "metal": "gold",
        "base_mcap": 692969,
        "today_mcap": 619446,
        "base_price": 1.17,
        "today_price": 1.042,
        "return_pct": -10.609854120458495
      },
      {
        "symbol": "FGLD",
        "metal": "gold",
        "base_mcap": 213180,
        "today_mcap": 203283,
        "base_price": 138.25,
        "today_price": 131.83,
        "return_pct": -4.642555586828035
      }
    ],
    "date": "2026-07-22",
    "fetched_at": "2026-07-22T02:39:11.901Z",
    "base_date": "2026-06-22",
    "base_value": 100
  }
}