{
  "snapshot": {
    "date": "2026-10-19",
    "fetched_at": "2026-10-19T14:00:00.000Z",
    "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": 6216464160.038603,
    "constituents_count": 21,
    "missing_count": 4,
    "constituents": [
      {
        "id": "tether-gold",
        "symbol": "XAUT",
        "name": "Tether Gold",
        "metal": "gold",
        "market_cap_usd": 3356739468.6595087,
        "price_usd": 4149.272868052917,
        "volume_24h_usd": 154412666.93540835,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 53.99756810692631
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        "id": "pax-gold",
        "symbol": "PAXG",
        "name": "PAX Gold",
        "metal": "gold",
        "market_cap_usd": 1828790559.1694307,
        "price_usd": 4150.364940845349,
        "volume_24h_usd": 118055986.27022043,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 29.418500808312782
      },
      {
        "id": "kinesis-gold",
        "symbol": "KAU",
        "name": "Kinesis Gold",
        "metal": "gold",
        "market_cap_usd": 531640834.6702943,
        "price_usd": 133.48816371999905,
        "volume_24h_usd": 114380.68289766846,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 8.552141876532477
      },
      {
        "id": "kinesis-silver",
        "symbol": "KAG",
        "name": "Kinesis Silver",
        "metal": "silver",
        "market_cap_usd": 212600862.17659122,
        "price_usd": 57.87040897662767,
        "volume_24h_usd": 43221.414546800646,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 3.419964415515443
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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": 1.2960189718011572
      },
      {
        "id": "matrixdock-gold",
        "symbol": "XAUM",
        "name": "Matrixdock Gold",
        "metal": "gold",
        "market_cap_usd": 70080767.89145206,
        "price_usd": 4120.8744477876435,
        "volume_24h_usd": 440896.7567942057,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 1.1273413002515706
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      {
        "id": "goldfish-gold",
        "symbol": "GGBR",
        "name": "Goldfish Gold",
        "metal": "gold",
        "market_cap_usd": 84834666.28070804,
        "price_usd": 4.162066574563794,
        "volume_24h_usd": 105322.43522808865,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 1.3646771556418213
      },
      {
        "id": "streamex-gldy",
        "symbol": "GLDY",
        "name": "Streamex GLDY",
        "metal": "gold",
        "market_cap_usd": 12753795.3933522,
        "price_usd": 4143.9,
        "volume_24h_usd": 0,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 0.20516156877952627
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      {
        "id": "uranium",
        "symbol": "XU3O8",
        "name": "Uranium³O₈",
        "metal": "uranium",
        "market_cap_usd": 9035731.08550985,
        "price_usd": 5.647331928443656,
        "volume_24h_usd": 556618.4804313816,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 0.14535161553080908
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      {
        "id": "gold-token-sa-dgld-tokenized-gold",
        "symbol": "DGLD",
        "name": "Gold Token SA DGLD",
        "metal": "gold",
        "market_cap_usd": 10056718.12439942,
        "price_usd": 4169.52974844034,
        "volume_24h_usd": 26127.543318048673,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 0.16177553454015198
      },
      {
        "id": "vnx-gold",
        "symbol": "VNXAU",
        "name": "VNX Gold",
        "metal": "gold",
        "market_cap_usd": 5876115.050195818,
        "price_usd": 133.54806932263222,
        "volume_24h_usd": 6717.1471481316,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 0.0945250370454855
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      {
        "id": "comtech-gold",
        "symbol": "CGO",
        "name": "Comtech Gold",
        "metal": "gold",
        "market_cap_usd": 3203149.6039197524,
        "price_usd": 133.46456682998968,
        "volume_24h_usd": 840494.4405880995,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 0.051526873178335215
      },
      {
        "id": "matrixdock-silver",
        "symbol": "XAGM",
        "name": "Matrixdock Silver",
        "metal": "silver",
        "market_cap_usd": 4379519.599269091,
        "price_usd": 59.947350768069015,
        "volume_24h_usd": 12962.29733864809,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 0.07045033135430954
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      {
        "id": "gold-dao",
        "symbol": "GOLDAO",
        "name": "Gold DAO",
        "metal": "gold",
        "market_cap_usd": 4381116.559681773,
        "price_usd": 0.006458835270290978,
        "volume_24h_usd": 553.7453254186661,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 0.07047602056237975
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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": 754043.4601548701,
        "price_usd": 1.26836578663561,
        "volume_24h_usd": 1096.4127558617033,
        "missing": false,
        "point_utc": "2026-10-19T14:00:00.000Z",
        "weight_pct": 0.012129780543127713
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      {
        "id": "gold-fgld-finest-tokenized-gold",
        "symbol": "FGLD",
        "name": "fGLD",
        "metal": "gold",
        "market_cap_usd": 194481.53661737684,
        "price_usd": 126.12291609427811,
        "volume_24h_usd": 252.20862351867197,
        "missing": false,
        "point_utc": "2026-10-18T01:00:00.000Z",
        "stale": true,
        "weight_pct": 0.0031284912389194755
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      {
        "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": 0.009262112245422324
      },
      {
        "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": 118.62,
    "gmri_ew": 106.3,
    "base_total_mcap": 5240685620.611613,
    "today_total_mcap": 6216464160.038603,
    "active_constituents": 17,
    "universe_size": 21,
    "family": {
      "live": {
        "TS-GMRI-EW": {
          "code": "TS-GMRI-EW",
          "name": "TS-GMRI Equal-Weighted",
          "n": 17,
          "value": 106.3,
          "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": 146.44,
          "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": 120.29,
          "notes": "Subset: tokens backed by physical gold."
        },
        "TS-GMRI-PRE": {
          "code": "TS-GMRI-PRE",
          "name": "TS-GMRI Precious",
          "n": 16,
          "value": 118.64,
          "notes": "Subset: gold + silver + platinum + palladium."
        },
        "TS-GMRI-AG": {
          "code": "TS-GMRI-AG",
          "name": "TS-GMRI Silver",
          "n": 2,
          "value": 86.13,
          "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": 3356739468.6595087,
        "base_price": 4183.561630896118,
        "today_price": 4149.272868052917,
        "return_pct": 30.92902682881484
      },
      {
        "symbol": "PAXG",
        "metal": "gold",
        "base_mcap": 1905168472.2898455,
        "today_mcap": 1828790559.1694307,
        "base_price": 4192.532749581879,
        "today_price": 4150.364940845349,
        "return_pct": -4.008984729241039
      },
      {
        "symbol": "KAU",
        "metal": "gold",
        "base_mcap": 306597540.25711286,
        "today_mcap": 531640834.6702943,
        "base_price": 128.4862810930633,
        "today_price": 133.48816371999905,
        "return_pct": 73.40022826812636
      },
      {
        "symbol": "KAG",
        "metal": "silver",
        "base_mcap": 247497505.33844045,
        "today_mcap": 212600862.17659122,
        "base_price": 66.49648339812154,
        "today_price": 57.87040897662767,
        "return_pct": -14.099795920823455
      },
      {
        "symbol": "GGBR",
        "metal": "gold",
        "base_mcap": 24655347.962438818,
        "today_mcap": 84834666.28070804,
        "base_price": 4.195308142410139,
        "today_price": 4.162066574563794,
        "return_pct": 244.08221052061157
      },
      {
        "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": 70080767.89145206,
        "base_price": 4149.36353844632,
        "today_price": 4120.8744477876435,
        "return_pct": 8.100388110242207
      },
      {
        "symbol": "GLDY",
        "metal": "gold",
        "base_mcap": 12937920.44690255,
        "today_mcap": 12753795.3933522,
        "base_price": 4203.725,
        "today_price": 4143.9,
        "return_pct": -1.4231425699825828
      },
      {
        "symbol": "DGLD",
        "metal": "gold",
        "base_mcap": 6689874.9709470635,
        "today_mcap": 10056718.12439942,
        "base_price": 4171.559020523995,
        "today_price": 4169.52974844034,
        "return_pct": 50.32744510284508
      },
      {
        "symbol": "XU3O8",
        "metal": "uranium",
        "base_mcap": 8625631.128640588,
        "today_mcap": 9035731.08550985,
        "base_price": 5.391019455400367,
        "today_price": 5.647331928443656,
        "return_pct": 4.754434206067115
      },
      {
        "symbol": "VNXAU",
        "metal": "gold",
        "base_mcap": 5948441.188025775,
        "today_mcap": 5876115.050195818,
        "base_price": 134.88528771033504,
        "today_price": 133.54806932263222,
        "return_pct": -1.2158838852698084
      },
      {
        "symbol": "GOLDAO",
        "metal": "gold",
        "base_mcap": 2061583.0358431968,
        "today_mcap": 4381116.559681773,
        "base_price": 0.0030392766417300637,
        "today_price": 0.006458835270290978,
        "return_pct": 112.51225313317912
      },
      {
        "symbol": "XAGM",
        "metal": "silver",
        "base_mcap": 4430060.58209477,
        "today_mcap": 4379519.599269091,
        "base_price": 67.13630422341475,
        "today_price": 59.947350768069015,
        "return_pct": -1.1408643716962485
      },
      {
        "symbol": "CGO",
        "metal": "gold",
        "base_mcap": 5256788.688271815,
        "today_mcap": 3203149.6039197524,
        "base_price": 134.78945354543114,
        "today_price": 133.46456682998968,
        "return_pct": -39.0664187992537
      },
      {
        "symbol": "GLDT",
        "metal": "gold",
        "base_mcap": 698879.6078783438,
        "today_mcap": 754043.4601548701,
        "base_price": 1.1757732299433779,
        "today_price": 1.26836578663561,
        "return_pct": 7.893183840918261
      },
      {
        "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": 194481.53661737684,
        "base_price": 125.26996566581191,
        "today_price": 126.12291609427811,
        "return_pct": 0.6808898078104697
      }
    ],
    "date": "2026-10-19",
    "fetched_at": "2026-10-19T14:00:00.000Z",
    "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
  }
}