Gold
- Order volume
- 3,851,000 oz
1D-5%vs previous business day at this time
Usual full day: 4,313,000 ozMedian of recent full days
Limpid Markets · Markets
Precious metals markets
A view of the gold, silver, platinum and palladium markets: swap rates, indicative spot prices, published activity and market context.
Volumes & swap curve · Information available by · Published 12 Nov 2026, 23:32 UTC
Market Pulse
Indicative spot · Δ 24h News sentiment ⚖️ NeutralRecord quarterly gold ETF inflows are not evidence of a bid today: hawkish repricing is winning in the coverage. Watch 's busier recorded swap orders alongside ample lendable metal—more activity does not establish executed borrowing.
Each row: change, level, rarity. Spot in dollars per troy ounce. Spot and volatility change over 24 h; the other rows change 1D, versus the previous business day at a comparable time. Rarity: share of comparable past moves that were smaller. Sources & method
Friday close · Spot quote as of · indicative
Market quotations
Short-term precious metal rates
Gold · London · Swap rates
End-of-day model estimates. Missing observations are left blank.
LatestPrevious business day
Model mid estimates through two months. 1D changes: versus the previous business day at a comparable observation time.
Most interbank swap activity on Limpid is in tenors under two months. Contact us for longer-dated indicative mid-rates, more frequent updates and extended historical data.
ContactDaily Interbank Contango Rate
DICOR
| Value dates | Stage | XAU LDN Gold | 1D change, XAU LDN, basis points | XAG LDN Silver | 1D change, XAG LDN, basis points | XPT LDN Platinum | 1D change, XPT LDN, basis points | XPT ZUR Platinum | 1D change, XPT ZUR, basis points | XPD LDN Palladium | 1D change, XPD LDN, basis points | XPD ZUR Palladium | 1D change, XPD ZUR, basis points |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12–13 Nov | Final | 4.07 | −3 | 4.06 | +2 | 1.50 | +10 | 3.00 | −25 | 4.08 | 3.90 | ||
| 13–16 Nov | Day 2 | 4.09 | 4.08 | 1.38 | 3.01 | 4.07 | 4.00 | ||||||
| 16–17 Nov | Day 1 | 4.05 | new | — | 1.08 | new | — | — | — |
Each value-date interval is observed over three business days (Day 1, Day 2, Final) and its provisional rate can change while observations accumulate. Changes: 1D, versus the same value dates at a comparable time on the previous business day, in basis points; “new” marks value dates not observed then. Value dates account for weekends and local holidays; a market whose dates differ shows them in its cell. A dash means no published value. About DICOR
Swap order activity
Recorded quantities for orders created during the stated UTC day, across order statuses, in troy ounces. Updated every 30 minutes on business days; the weekend keeps Friday's close.
Activity day: 2026-11-12 · Information available by 12 Nov 2026, 23:00 UTC · Published 12 Nov 2026, 23:32 UTC
Order observation: 12 Nov 2026, 22:58 UTC
Silver
- Order volume
- 46,685,000 oz
1D+79%vs previous business day at this time
Usual full day: 40,835,500 ozMedian of recent full days
Platinum
- Order volume
- 566,000 oz
1D+15%vs previous business day at this time
Usual full day: 405,500 ozMedian of recent full days
Palladium
- Order volume
- 426,000 oz
1D+14%vs previous business day at this time
Usual full day: 238,500 ozMedian of recent full days
1D compares with the previous business day (Wed 11 Nov) at the same time. The usual full day uses completed full days. Today's quantities are still accumulating. The small curves show the cumulative quantities. Aggregated quantities only, without counts or individual order or participant details. “Not published” does not mean zero. About these figures
Spot volatility
Realised volatility · % annualised · 24h Δ vs previous day · 1h Δ vs previous hour
Gold
24h20.24%+6.7 pp
1h6.09%+1.5 pp
Silver
24h36.70%+9.4 pp
1h18.91%-4.8 pp
Platinum
24h35.01%+8.2 pp
1h14.74%+6.7 pp
Palladium
24h39.42%+2.0 pp
1h30.20%+10.0 pp
Both windows use qualified five-minute spot observations. Missing or incomplete windows remain unavailable.
Latest News Feed
AI summaries from metals, mining, and macro sources.
Trending Now 🔥
Aris Mining Announces Positive PFS Results for the Toroparu Gold Project - Financial Times
Hudbay cuts cost outlook as Copper Mountain improves
Armenia’s mining revival hinges on more than minerals
Home sales hit 16-year low in October amid record-high mortgage rates
Gold Price Forecast: Can XAU/USD extend gains with bulls held below $4,050? - www.tmgm.com
2000 AI summaries
Read desk brief →
Aris Mining Announces Positive PFS Results for the Toroparu Gold Project - Financial Times
Aris Mining’s Toroparu PFS estimates 5.9 Moz of gold reserves and projects 5.6 Moz production over 29 years, averaging 258 koz annually in years 1–17. At assumed $3,600/oz gold, after-tax NPV5% is $2.8 billion and IRR 31.5%; reserves use $1,950/oz. The $1.005 billion initial funding requirement assumes $138 million that Wheaton may elect to provide under a…
Related sources: Financial Times via Google News, Morningstar via Google News
Gold Price Forecast: Can XAU/USD extend gains with bulls held below $4,050? - www.tmgm.com
Gold traded around $4,050 in the article’s Wednesday session after Tuesday’s reversal near $4,150. The source attributes pressure to dollar strength following above-expected October inflation and expectations of December Fed tightening. The analysis identifies a possible double top: a decisive breach of $4,030–$4,023 support would confirm the pattern,…
Hudbay cuts cost outlook as Copper Mountain improves
Hudbay lowered annual copper cash-cost guidance after by-product credits to negative $0.55–$0.35/lb from negative $0.45–$0.25, supported by gold credits. Third-quarter gold output rose 30% to 69,513 oz, exceeding analyst forecasts; annual gold guidance remains 217,000–272,000 oz. Copper Mountain generated its first positive quarterly free cash flow under…
Related sources: Mining.com, The Northern Miner via Google News
Silver tumbles over 3% as Fed rate hike bets fuel US Dollar rally - www.tmgm.com
Silver fell 3.04% to around $50.15 on Thursday, with the article attributing selling pressure to dollar strength and increased Fed tightening expectations; DXY traded near 103.10. October core CPI rose 0.3% month-on-month versus 0.2% forecast, while headline CPI increased 0.4% versus 0.3% expected. The report says markets fully priced a December rate hike…
Armenia’s mining revival hinges on more than minerals
Armenia’s Amulsar gold mine started production a week before the Oct. 16–17, 2026 Mining Armenia Forum, following years of delays amid environmental protests and political uncertainty. Mining association president Vardan Jhanian forecast mining exports of approximately $3 billion in 2027, supported by Amulsar and higher copper and molybdenum prices. A Wood…
Gold Slumps 3% Below $3,900: What Is Causing the Continued Decline in Gold Prices? - TradingKey
Spot gold fell over 3% to $3,864/oz on November 12 ET; the article attributes the decline to above-forecast October inflation, hawkish Fed signals and dollar strength. TD Securities says these headwinds outweigh official-sector buying of 675 tonnes year-to-date, up 6% versus 2025. Citi cut its 0–3-month target from $4,800 to $4,500, retaining $5,000 over…
Gold Price Declines Surge European & American Investors' Demand for Gold ETFs - 36Kr
The article cites WGC data showing record global gold ETF inflows of $31 billion in Q3 2026, adding 211 tonnes and lifting holdings to 4,256 tonnes. October inflows continued at $2.7 billion despite falling gold prices, including $1.8 billion from European investors. Investors interviewed attributed allocations to stock-bond volatility and sovereign-debt…
Silver prices today, Thursday, November 12, 2026: Silver holds at open as markets prep for another Fed rate increase - Yahoo Finance
December silver futures opened at $51.64/oz on November 12, 2026, then fell to $50.98 by 7:22 a.m. ET. The article reports CME FedWatch implied roughly a 90% probability of a 25-basis-point increase at the December 8–9 Fed meeting; Governor Chris Waller favored that step but was open to 50 basis points if October inflation proved hot. Tightening could…
Home sales hit 16-year low in October amid record-high mortgage rates
US existing-home sales fell to a 16-year low of 3.75m in October, down 8.8% year on year, according to NAR, while the median price rose to $416,700. The 30-year mortgage rate was about 7.18%, with the source linking renewed increases to inflation and higher interest rates amid the Iran war. The Fed raised rates in September to 3.75%-4%, and the article…
Gold Price Crashes Below $3,900 as Fed Rate Hike Bets Overwhelm Safe-Haven Demand - Coinpaper
Spot gold fell 2.9% to $3,871.31/oz on November 12, extending a three-session decline; the article attributes selling to Fed tightening expectations and dollar strength despite geopolitical uncertainty. It reports October CPI rose 0.4% month-on-month versus 0.3% expected, with markets assigning roughly 91% probability to a December 25bp hike. Higher…
Tighter regulation not enough to stop importing illicit gold to UAE: report
SWISSAID estimates the UAE imported at least 591 tonnes of illicit gold in 2024, representing 42% of total gold imports, despite tighter sourcing rules introduced in 2023. Only two of 52 Emirati refineries reviewed for 2023–2025 fully adopted the regulations, the report found. Switzerland, the leading importer of UAE gold, imported 420 tonnes in 2024 and…
As gold falls from Rs 1.8 lakh peak to Rs 1.42 lakh per 10 grams, Indians buy 30% more, spending Rs 72,00 - The Times of India
Indian Dhanteras-Diwali gold purchases rose 30% year on year to 52 tonnes worth Rs 72,000 crore, while silver buying increased 10% to 300 tonnes worth Rs 5,400 crore, according to IBJA. The rebound followed gold’s retreat from around Rs 1.8 lakh to Rs 1.42 lakh per 10 grams; jewellers also cited advance wedding-season purchases and pent-up demand. Stronger…
Official Macro Calendar
Selected official releases; coverage is not exhaustive. Times use each source's local timezone. Some sources need rechecking or could not refresh; expired schedules are hidden.
Next 120 days · 5 listed events · last listed date 2026-12-15. Dates without a time may already have been released today.
PPI
US
Official schedule
US PPI
JOLTS
US
Official schedule
US Job Openings and Labor Turnover
NFP
US
Official schedule
US Employment Situation
CPI
US
Official schedule
US CPI
PPI
US
Official schedule
US PPI
Sources and verification
BLS releases refresh automatically. Other schedules are manually checked; overdue checks are marked and expired dates are hidden.
- US Bureau of Labor Statistics · current · checked 2026-11-12T01:19:57.199710+00:00 · valid until 2026-11-19T01:19:57.199710+00:00 · last listed date 2026-12-15
- Federal Reserve · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2027-12-08
- US Bureau of Economic Analysis · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-23
- US Census Bureau · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-16
- UK Office for National Statistics · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-09-16
- Bank of England · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-17
- European Central Bank · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-17
- Swiss National Bank · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-10
- Bank of Japan · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-18
- Statistics Bureau of Japan · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-18
- National Bureau of Statistics of China · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-09
- Reserve Bank of Australia · expired · checked 2026-09-09T11:04:45+00:00 · valid until 2026-10-09T11:04:45+00:00 · last listed date 2026-12-08
Sources & publication method
DICOR: an observable interbank index
DICOR (Daily Interbank Contango Rate) is a proprietary index administered by Limpid Markets Ltd of the cost of rolling precious metal against US dollars from one value date to the next. It combines eligible interbank trades with their associated orders on the platform, not submissions from a panel of contributors, providing an observable indicator of interbank funding liquidity. At comparable dollar rates, a lower DICOR can signal tighter metal availability. Each value-date interval is observed over three business days, Day 1, Day 2 and Final, and its provisional rate evolves as observations accumulate. Daily DICOR histories date back to 2014 across gold, silver, platinum and palladium. On request, we can compound them over custom periods to measure realised funding costs. Public observations are delayed as indicated.
Rates & prices
Swap rates are model mid estimates against USD. Forward lease rates are implied on a USD curve anchored to public US Treasury and SOFR data; lease rates in arrears are calculated from DICOR and the SOFR Index. Updates come every 30 minutes on business days, at least 30 minutes after the observation cutoff; curves are recalculated between 07:15 and 19:15 UTC, and the weekend keeps Friday's close. Spot prices are indicative midpoints, loco London, in USD per troy ounce, rounded to the nearest $0.05, with changes over 24 h. They update every 15 seconds on weekdays and pause from Saturday 00:00 to Monday 00:00 UTC, when the last quotes stay dated; quotes older than two minutes are withheld.
Changes & Market Pulse
Changes are 1D: versus the previous business day at a comparable time, on the same value dates for DICOR; spot and volatility use 24 h unless shown otherwise. For each metal, Market Pulse lists moves larger than most comparable moves of recent months at a similar time of day; rarity is the share of those moves that were smaller. Codes (SWAP, LEASE, DICOR, ORDERS, SPOT, VOL) carry blue, violet or amber dots for swaps, leases and spot: darker when forward or instant, lighter when realised.
Activity & news
Order volume is the quantity recorded at the stated observation for orders created during that UTC day. Order quantities accumulated during the day are compared with the previous business day at the same time. Market Pulse ranks the 1D change of these quantities as ORDERS. Changes to an order can affect its recorded quantity; this is not the sum of all initial submissions or executed volume. Only metal totals are published. News summaries link to their sources; the calendar lists selected official releases. Public market information is indicative, not an executable quote or a complete view of the trading platform.