{
  "snapshot": {
    "date": "2026-10-17",
    "fetched_at": "2026-10-17T14:00:00.000Z",
    "valuation": "15:00 Europe/London (minute of the LBMA Gold PM fix); CoinGecko hourly market data: the point nearest that minute within ±30 minutes, otherwise the last earlier point within 7 days (stale); methodology v1.7",
    "retrieved_at": "2026-11-03T11:49:56.497Z",
    "total_market_cap_usd": 6224027362.1463375,
    "constituents_count": 21,
    "missing_count": 4,
    "constituents": [
      {
        "id": "tether-gold",
        "symbol": "XAUT",
        "name": "Tether Gold",
        "metal": "gold",
        "market_cap_usd": 3363303675.641132,
        "price_usd": 4157.386898403926,
        "volume_24h_usd": 123285443.03564544,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 54.037417895947456
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        "id": "pax-gold",
        "symbol": "PAXG",
        "name": "PAX Gold",
        "metal": "gold",
        "market_cap_usd": 1832878507.720903,
        "price_usd": 4159.62490776917,
        "volume_24h_usd": 93427250.68859008,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 29.448432679910972
      },
      {
        "id": "kinesis-gold",
        "symbol": "KAU",
        "name": "Kinesis Gold",
        "metal": "gold",
        "market_cap_usd": 527521156.4290376,
        "price_usd": 132.45376559314403,
        "volume_24h_usd": 79898.76651357066,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 8.475559725803059
      },
      {
        "id": "kinesis-silver",
        "symbol": "KAG",
        "name": "Kinesis Silver",
        "metal": "silver",
        "market_cap_usd": 213754731.06210083,
        "price_usd": 58.18449455288645,
        "volume_24h_usd": 5415.763405517294,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 3.434347547411619
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      {
        "id": "pleasing-gold",
        "symbol": "PGOLD",
        "name": "Pleasing Gold",
        "metal": "gold",
        "market_cap_usd": 80566554.88931975,
        "price_usd": 4130.548400126042,
        "volume_24h_usd": 2.612776250049547,
        "missing": false,
        "point_utc": "2026-10-15T23:00:00.000Z",
        "stale": true,
        "weight_pct": 1.294444098676594
      },
      {
        "id": "matrixdock-gold",
        "symbol": "XAUM",
        "name": "Matrixdock Gold",
        "metal": "gold",
        "market_cap_usd": 70248732.96996197,
        "price_usd": 4130.751094704872,
        "volume_24h_usd": 396274.57489168085,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 1.12867005368911
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      {
        "id": "goldfish-gold",
        "symbol": "GGBR",
        "name": "Goldfish Gold",
        "metal": "gold",
        "market_cap_usd": 84857807.72942181,
        "price_usd": 4.163201915272978,
        "volume_24h_usd": 118077.27396891476,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 1.3633906599690597
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      {
        "id": "streamex-gldy",
        "symbol": "GLDY",
        "name": "Streamex GLDY",
        "metal": "gold",
        "market_cap_usd": 12831231.019717881,
        "price_usd": 4169.06,
        "volume_24h_usd": 0,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 0.20615640441678695
      },
      {
        "id": "uranium",
        "symbol": "XU3O8",
        "name": "Uranium³O₈",
        "metal": "uranium",
        "market_cap_usd": 8999340.25327869,
        "price_usd": 5.6245876582991805,
        "volume_24h_usd": 526246.323096951,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 0.14459030672023418
      },
      {
        "id": "gold-token-sa-dgld-tokenized-gold",
        "symbol": "DGLD",
        "name": "Gold Token SA DGLD",
        "metal": "gold",
        "market_cap_usd": 10022340.35407256,
        "price_usd": 4155.276675589951,
        "volume_24h_usd": 17177.278961858112,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 0.16102661140320543
      },
      {
        "id": "vnx-gold",
        "symbol": "VNXAU",
        "name": "VNX Gold",
        "metal": "gold",
        "market_cap_usd": 5909403.330029537,
        "price_usd": 134.30462113703493,
        "volume_24h_usd": 6973.829837812552,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 0.09494500885342665
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      {
        "id": "comtech-gold",
        "symbol": "CGO",
        "name": "Comtech Gold",
        "metal": "gold",
        "market_cap_usd": 3185409.697055851,
        "price_usd": 132.7254040439938,
        "volume_24h_usd": 879287.1700914716,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 0.0511792367178375
      },
      {
        "id": "matrixdock-silver",
        "symbol": "XAGM",
        "name": "Matrixdock Silver",
        "metal": "silver",
        "market_cap_usd": 4347298.177672587,
        "price_usd": 59.50728032575511,
        "volume_24h_usd": 7999.660639815299,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 0.06984702869579665
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      {
        "id": "gold-dao",
        "symbol": "GOLDAO",
        "name": "Gold DAO",
        "metal": "gold",
        "market_cap_usd": 4074342.487550672,
        "price_usd": 0.006006575402264307,
        "volume_24h_usd": 172.12895579012735,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 0.0654615131085421
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      {
        "id": "kinka",
        "symbol": "XNK",
        "name": "Kinka",
        "metal": "gold",
        "market_cap_usd": 0,
        "price_usd": 0,
        "volume_24h_usd": 0,
        "missing": true,
        "weight_pct": 0
      },
      {
        "id": "gold-token",
        "symbol": "GLDT",
        "name": "Gold Token",
        "metal": "gold",
        "market_cap_usd": 754794.7682608125,
        "price_usd": 1.269629551321804,
        "volume_24h_usd": 804.9335266326158,
        "missing": false,
        "point_utc": "2026-10-17T14:00:00.000Z",
        "weight_pct": 0.01212711198622565
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      {
        "id": "gold-fgld-finest-tokenized-gold",
        "symbol": "FGLD",
        "name": "fGLD",
        "metal": "gold",
        "market_cap_usd": 196259.72862337224,
        "price_usd": 127.27608860140872,
        "volume_24h_usd": 254.5518936792279,
        "missing": false,
        "point_utc": "2026-10-13T09:00:00.000Z",
        "stale": true,
        "weight_pct": 0.003153259412338005
      },
      {
        "id": "tenbin-gold",
        "symbol": "TGLD",
        "name": "Tenbin Gold",
        "metal": "gold",
        "market_cap_usd": 575775.8881992254,
        "price_usd": 4119.693981789522,
        "volume_24h_usd": 14.718554267199796,
        "missing": false,
        "point_utc": "2026-10-16T00:00:00.000Z",
        "stale": true,
        "weight_pct": 0.009250857277733284
      },
      {
        "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": 118.76,
    "gmri_ew": 105.46,
    "base_total_mcap": 5240685620.611613,
    "today_total_mcap": 6224027362.1463375,
    "active_constituents": 17,
    "universe_size": 21,
    "family": {
      "live": {
        "TS-GMRI-EW": {
          "code": "TS-GMRI-EW",
          "name": "TS-GMRI Equal-Weighted",
          "n": 17,
          "value": 105.46,
          "notes": "Each active constituent weighted 1/N at base."
        },
        "TS-GMRI-CAP20": {
          "code": "TS-GMRI-CAP20",
          "name": "TS-GMRI Issuer-Capped 20%",
          "n": 17,
          "value": 146.24,
          "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": 14,
          "value": 120.42,
          "notes": "Subset: tokens backed by physical gold."
        },
        "TS-GMRI-PRE": {
          "code": "TS-GMRI-PRE",
          "name": "TS-GMRI Precious",
          "n": 16,
          "value": 118.79,
          "notes": "Subset: gold + silver + platinum + palladium."
        },
        "TS-GMRI-AG": {
          "code": "TS-GMRI-AG",
          "name": "TS-GMRI Silver",
          "n": 2,
          "value": 86.57,
          "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": "A registered methodology slot for strategic critical materials. Four tokens are eligible by metal type: XU3O8 uranium concentrate, Trilitech xCo cobalt, Trilitech xNi nickel and the Noemon RARE basket (hafnium, neodymium, rhenium, indium, praseodymium). Only XU3O8 has a public market price; xCo, xNi and RARE have no public market price, so they cannot be counted. Active constituents: 1. The publication threshold N ≥ 3 is not met, and the index is not published. Critical materials underpin defence, nuclear and clean-energy supply chains. xCo and xNi launched on 25 June 2026 via metals.io; they and the RARE basket enter the calculation automatically once a public market price is available."
        },
        {
          "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": 2563785548.523422,
        "today_mcap": 3363303675.641132,
        "base_price": 4183.561630896118,
        "today_price": 4157.386898403926,
        "return_pct": 31.185062556350786
      },
      {
        "symbol": "PAXG",
        "metal": "gold",
        "base_mcap": 1905168472.2898455,
        "today_mcap": 1832878507.720903,
        "base_price": 4192.532749581879,
        "today_price": 4159.62490776917,
        "return_pct": -3.794413230135829
      },
      {
        "symbol": "KAU",
        "metal": "gold",
        "base_mcap": 306597540.25711286,
        "today_mcap": 527521156.4290376,
        "base_price": 128.4862810930633,
        "today_price": 132.45376559314403,
        "return_pct": 72.05655204756634
      },
      {
        "symbol": "KAG",
        "metal": "silver",
        "base_mcap": 247497505.33844045,
        "today_mcap": 213754731.06210083,
        "base_price": 66.49648339812154,
        "today_price": 58.18449455288645,
        "return_pct": -13.633581570932629
      },
      {
        "symbol": "GGBR",
        "metal": "gold",
        "base_mcap": 24655347.962438818,
        "today_mcap": 84857807.72942181,
        "base_price": 4.195308142410139,
        "today_price": 4.163201915272978,
        "return_pct": 244.1760702736721
      },
      {
        "symbol": "PGOLD",
        "metal": "gold",
        "base_mcap": 81234682.94380227,
        "today_mcap": 80566554.88931975,
        "base_price": 4164.802505571079,
        "today_price": 4130.548400126042,
        "return_pct": -0.8224665010937882
      },
      {
        "symbol": "XAUM",
        "metal": "gold",
        "base_mcap": 64829339.761465766,
        "today_mcap": 70248732.96996197,
        "base_price": 4149.36353844632,
        "today_price": 4130.751094704872,
        "return_pct": 8.359476169950852
      },
      {
        "symbol": "GLDY",
        "metal": "gold",
        "base_mcap": 12937920.44690255,
        "today_mcap": 12831231.019717881,
        "base_price": 4203.725,
        "today_price": 4169.06,
        "return_pct": -0.8246257783275479
      },
      {
        "symbol": "DGLD",
        "metal": "gold",
        "base_mcap": 6689874.9709470635,
        "today_mcap": 10022340.35407256,
        "base_price": 4171.559020523995,
        "today_price": 4155.276675589951,
        "return_pct": 49.813567482169695
      },
      {
        "symbol": "XU3O8",
        "metal": "uranium",
        "base_mcap": 8625631.128640588,
        "today_mcap": 8999340.25327869,
        "base_price": 5.391019455400367,
        "today_price": 5.6245876582991805,
        "return_pct": 4.332542385185412
      },
      {
        "symbol": "VNXAU",
        "metal": "gold",
        "base_mcap": 5948441.188025775,
        "today_mcap": 5909403.330029537,
        "base_price": 134.88528771033504,
        "today_price": 134.30462113703493,
        "return_pct": -0.6562703868506214
      },
      {
        "symbol": "XAGM",
        "metal": "silver",
        "base_mcap": 4430060.58209477,
        "today_mcap": 4347298.177672587,
        "base_price": 67.13630422341475,
        "today_price": 59.50728032575511,
        "return_pct": -1.8682002850409773
      },
      {
        "symbol": "GOLDAO",
        "metal": "gold",
        "base_mcap": 2061583.0358431968,
        "today_mcap": 4074342.487550672,
        "base_price": 0.0030392766417300637,
        "today_price": 0.006006575402264307,
        "return_pct": 97.63174302044291
      },
      {
        "symbol": "CGO",
        "metal": "gold",
        "base_mcap": 5256788.688271815,
        "today_mcap": 3185409.697055851,
        "base_price": 134.78945354543114,
        "today_price": 132.7254040439938,
        "return_pct": -39.40388541463202
      },
      {
        "symbol": "GLDT",
        "metal": "gold",
        "base_mcap": 698879.6078783438,
        "today_mcap": 754794.7682608125,
        "base_price": 1.1757732299433779,
        "today_price": 1.269629551321804,
        "return_pct": 8.000685633426308
      },
      {
        "symbol": "TGLD",
        "metal": "gold",
        "base_mcap": 74837.59942596829,
        "today_mcap": 575775.8881992254,
        "base_price": 3791.0328342676444,
        "today_price": 4119.693981789522,
        "return_pct": 669.3671264386306
      },
      {
        "symbol": "FGLD",
        "metal": "gold",
        "base_mcap": 193166.28705668196,
        "today_mcap": 196259.72862337224,
        "base_price": 125.26996566581191,
        "today_price": 127.27608860140872,
        "return_pct": 1.6014396786446339
      }
    ],
    "date": "2026-10-17",
    "fetched_at": "2026-10-17T14:00:00.000Z",
    "valuation": "15:00 Europe/London (minute of the LBMA Gold PM fix); CoinGecko hourly market data: the point nearest that minute within ±30 minutes, otherwise the last earlier point within 7 days (stale); methodology v1.7",
    "base_date": "2026-06-22",
    "base_value": 100
  }
}