{
  "dataset": "tokenized-metal-premium",
  "title": "Tokenized metal premium — XAUT, PAXG and KAG against spot",
  "url": "https://stackfi.io/tools/tokenized-metal-premium/",
  "asOf": "2026-10-02T20:52:30.078Z",
  "status": "fresh",
  "spotAsOf": "2026-10-02T20:52:27.000Z",
  "spotSource": "gold-api-live",
  "maxLegGapMinutes": 15,
  "registryVersion": "2026-09-24.v1",
  "license": {
    "name": "CC BY 4.0",
    "url": "https://creativecommons.org/licenses/by/4.0/",
    "terms": "https://stackfi.io/license/",
    "covers": "StackFi's compilation and derived measurements only. Raw upstream prices are facts, not licensed by StackFi — see the sources map and https://stackfi.io/license/"
  },
  "attribution": {
    "text": "Data by StackFi (stackfi.io), CC BY 4.0",
    "html": "<a href=\"https://stackfi.io\">StackFi</a>, licensed under <a href=\"https://creativecommons.org/licenses/by/4.0/\">CC BY 4.0</a>",
    "request": "Not required by the licence, but asked for: when the credit appears online, please make it a link. That link is the only thing we get back for publishing this."
  },
  "sources": {
    "issuer": "StackFi — derived measurement",
    "tokenPrice": "CoinGecko — upstream market data",
    "spotPrice": "gold-api.com — upstream market data",
    "troyOuncesPerToken": "StackFi — derived measurement",
    "impliedOuncesPerToken": "StackFi — derived measurement",
    "premiumPct": "StackFi — derived measurement",
    "change24hPct": "CoinGecko — upstream market data",
    "marketCapUsd": "CoinGecko — upstream market data",
    "suspect": "StackFi — derived measurement",
    "legGapMinutes": "StackFi — derived measurement",
    "legsAligned": "StackFi — derived measurement",
    "medianPremiumPct": "StackFi — derived measurement",
    "widest": "StackFi — derived measurement",
    "totalMarketCapUsd": "StackFi — derived measurement"
  },
  "method": {
    "premium": "premiumPct = tokenPrice / (spotPrice * troyOuncesPerToken) - 1. Token prices from CoinGecko; spot fetched live from gold-api.com in the same run.",
    "timing": "legGapMinutes is the time between the token price and the spot price it is divided by. Above maxLegGapMinutes the premium is null: a ratio between prices taken hours apart measures how far the metal moved, not what the token costs.",
    "unitCheck": "impliedOuncesPerToken = tokenPrice / spotPrice, with nothing assumed. When it disagrees with troyOuncesPerToken by more than 5% the row is marked suspect and the premium is null, so a unit error cannot be published as a premium."
  },
  "summary": {
    "tokens": 3,
    "quoted": 3,
    "medianPremiumPct": -0.035,
    "widest": {
      "ticker": "KAG",
      "premiumPct": -0.562
    },
    "totalMarketCapUsd": 5370712240
  },
  "rows": [
    {
      "ticker": "XAUT",
      "name": "Tether Gold",
      "issuer": "TG Commodities",
      "metal": "gold",
      "chains": "Ethereum, BNB Smart Chain",
      "tokenPrice": 4137.16,
      "spotPrice": 4138.6,
      "troyOuncesPerToken": 1,
      "impliedOuncesPerToken": 0.9997,
      "premiumPct": -0.035,
      "change24hPct": -0.95,
      "marketCapUsd": 3346938499,
      "suspect": false,
      "legGapMinutes": 1.6,
      "legsAligned": true
    },
    {
      "ticker": "PAXG",
      "name": "Pax Gold",
      "issuer": "Paxos",
      "metal": "gold",
      "chains": "Ethereum",
      "tokenPrice": 4145.08,
      "spotPrice": 4138.6,
      "troyOuncesPerToken": 1,
      "impliedOuncesPerToken": 1.0016,
      "premiumPct": 0.157,
      "change24hPct": -0.93,
      "marketCapUsd": 1803402058,
      "suspect": false,
      "legGapMinutes": 1.6,
      "legsAligned": true
    },
    {
      "ticker": "KAG",
      "name": "Kinesis Silver",
      "issuer": "Kinesis",
      "metal": "silver",
      "chains": "Kinesis Blockchain",
      "tokenPrice": 60.14,
      "spotPrice": 60.48,
      "troyOuncesPerToken": 1,
      "impliedOuncesPerToken": 0.9944,
      "premiumPct": -0.562,
      "change24hPct": -0.96,
      "marketCapUsd": 220371683,
      "suspect": false,
      "legGapMinutes": 1.1,
      "legsAligned": true
    }
  ]
}