Gold
- Order volume
- 4,055,000 oz
1D+58%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, 00:02 UTC
Market Pulse
Indicative spot · Δ 24h News sentiment 🐻 BearMoves of Wed 11 Nov
Type
Metal
Place
Tenor
Change
Level
Rarity
Reading
SWAP: Platinum London O/N swap rate, −80 bp versus the previous business day; level 0.97%; larger than 26 of 26 comparable past moves; observed 11 Nov 2026, 19:14 UTC.
XPT
LDN
O/N
−80 bp
0.97 %
100%
SWAP: Palladium London S/N swap rate, +11 bp versus the previous business day; level 4.07%; larger than 26 of 26 comparable past moves; observed 11 Nov 2026, 19:14 UTC.
XPD
LDN
S/N
+11 bp
4.07 %
100%
LEASE: Gold London 3W forward lease rate, −6 bp versus the previous business day; level -0.10%; larger than 25 of 26 comparable past moves; observed 11 Nov 2026, 19:14 UTC.
XAU
LDN
3W
−6 bp
−0.10 %
96%
VOL: Gold spot 24h realised volatility at the UTC close, −6.93 pts percentage points versus the preceding 24h; level 13.62%; larger than 23 of 25 comparable past moves; observed 12 Nov 2026, 00:00 UTC.
XAU
LDN
24h
−6.93 pts
13.6 %
92%
VOL: Platinum spot 24h realised volatility at the UTC close, −8.77 pts percentage points versus the preceding 24h; level 26.81%; larger than 23 of 25 comparable past moves; observed 12 Nov 2026, 00:00 UTC.
XPT
LDN
24h
−8.77 pts
26.8 %
92%
Spot
USD/oz · Δ 24h Friday close Commentary 00:20 UTC
Spot, Gold
—
—
−1.46 %—
$3,981.00 —
softer amid Fed fears; outsized lease-rate and volatility drops mark a calmer retreat
Spot, Silver
—
—
−0.20 %—
$48.45 —
softer despite rebound headlines; calmer swings and quieter swap orders
Spot, Platinum
—
—
−1.13 %—
$1,526.05 —
softer; London overnight swap rates drop unusually far as volatility slumps
Spot, Palladium
—
—
−0.21 %—
$1,027.70 —
softer; London spot-next swap rates rise unusually far, widening contango
Changes: 1D, versus the previous business day at a comparable time (spot and volatility: 24 h). Rarity: share of comparable past moves that were smaller. Sources & method
Spot quote as of · indicative
Platinum is the funding outlier beneath a uniformly red spot screen: London overnight lease rates rose 80 basis points despite falling spot, while negative and palladium lease rates indicate ample lendable metal. Watch whether platinum’s dearer borrowing conditions persist rather than treating every metal as the same Fed trade.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10–12 Nov | Final | 4.06 | 0 | 4.07 | 0 | 1.59 | 0 | 3.24 | 0 | 4.09 | 0 | 4.00 | 0 |
| 12–13 Nov | Day 2 | 4.06 | −4 | 4.05 | +1 | 1.50 | +10 | 3.01 | −24 | 4.06 | 3.90 | ||
| 13–16 Nov | Day 1 | 4.09 | — | — | 3.00 | — | — |
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: 2026-11-11 · Information available by 11 Nov 2026, 23:30 UTC · Published 12 Nov 2026, 00:02 UTC
Order observation: 11 Nov 2026, 23:29 UTC
Silver
- Order volume
- 26,060,000 oz
1D-44%vs previous business day at this time
Usual full day: 40,835,500 ozMedian of recent full days
Platinum
- Order volume
- 493,000 oz
1D+145%vs previous business day at this time
Usual full day: 394,500 ozMedian of recent full days
Palladium
- Order volume
- 373,000 oz
1D+249%vs previous business day at this time
Usual full day: 228,000 ozMedian of recent full days
1D compares with the previous business day (Tue 10 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
24h14.00%-6.5 pp
1h21.46%+5.5 pp
Silver
24h28.16%-7.0 pp
1h42.65%+22.1 pp
Platinum
24h27.30%-8.3 pp
1h35.63%+19.3 pp
Palladium
24h37.85%-3.0 pp
1h39.44%+28.8 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 🔥
Minerals 260 lines up A$410M for gold project
Troilus hits gold in Quebec ground marked as waste
Gold price extends decline as Fed rate hike bets grow - Mining.com.au
Gold Miners Post Strong Q2 Despite Price Pullback and Rising Costs - IndexBox
Gold Price Forecast: Tests Support as Dollar Climbs - FXEmpire
2000 AI summaries
Read desk brief →
Gold Miners Post Strong Q2 Despite Price Pullback and Rising Costs - IndexBox
Gold miners’ Q2 2026 all-in sustaining cost margins fell 16% quarter over quarter to $2,582/oz but remained 52% higher annually, according to Metals Focus analysis prepared for the World Gold Council. Covered operations increased output 1.6% quarterly, though production remained 4.4% lower annually; total cash costs rose 4% quarterly to $1,406/oz as…
Minerals 260 lines up A$410M for gold project
Minerals 260 secured A$410 million in bank debt commitments for Western Australia’s Bullabulling gold project, comprising A$335 million in project finance and A$75 million in working capital, without mandatory gold-price hedging. Combined with equity and royalty funding, the package would cover development through first production, the company said.…
Troilus hits gold in Quebec ground marked as waste
Troilus reported 34 metres grading 1.29 grams gold per tonne, including 12 metres at 3.04 grams, in ground previously treated as waste at its Quebec project. Estimated true thicknesses are 75%–90% of drill lengths. Desjardins analyst Bryce Adams said the results could support resource conversion, lower stripping and improved early mill feed, but modelling…
Gold price extends decline as Fed rate hike bets grow - Mining.com.au
Spot gold fell 0.7% Wednesday to just above US$4,000/oz after reaching US$4,066, extending Tuesday’s nearly 3% decline following October CPI growth of 0.4% versus 0.3% expected. The report says markets fully priced at least a 25bp December Fed hike, with 50bp odds rising to 13.2% from zero, while the dollar reached a four-week high. Further dollar strength…
Gold Price Forecast: Tests Support as Dollar Climbs - FXEmpire
Spot gold fell to about $4,014 after reaching $4,066.77 Wednesday; December futures traded near $4,022. FXEmpire attributes the weakness to hotter-than-expected CPI, rising Treasury yields and dollar strength, channels that could continue to pressure bullion. The analyst’s bearish bias depends on support at $4,009.51–$3,976.66. A sustained move below…
Altius to buy TNR Gold in $86-million royalty deal
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Scorpio hits gold beyond Nevada resource
Scorpio Gold reported 13.05 metres grading 9.4 grams gold per tonne at its Manhattan project’s April Fool target in Nevada, 850 metres from the core resource area. The intersection starts at 78.63 metres depth; true width is unknown, and it does not establish continuous mineralization across the gap. Manhattan’s June 2025 inferred resource contains 740,000…
Gold Falls Rs 800 To Rs 1.45 Lakh/10 Grams In Delhi; Silver Tumbles Rs 5,000 - ETV Bharat
Delhi gold fell Rs 800 to Rs 145,600 per 10 grams, including taxes, for a second straight decline; silver dropped Rs 5,000 to Rs 187,500/kg. HDFC Securities’ Saumil Gandhi attributed domestic weakness to thin Diwali trading, while global spot gold edged higher to $4,047.71/oz and silver rose nearly 3% to $52.86/oz. Gandhi warned that hawkish Fed signals…
Cabral Gold Nears Commercial Production, Cash Flow to Fund Phase 2 Study - Crux Investor
Cabral Gold targets commercial production at Brazil’s Cuiú Cuiú before end-2026, following a 1,130 oz first pour in September; management targets first-year output of 25,000–30,000 oz and costs near the PFS life-of-mine AISC of US$1,210/oz. Management expects Phase 1 cash flow to fund drilling, expansion and a Phase 2 hard-rock PEA targeted for Q3 2027…
Diesel still costing close to a ’dismal’ £2 a litre despite oil price falls
UK diesel averaged 197p a litre despite falling oil prices, while petrol eased to 168p from an early-October peak of 174.7p, according to the AA. Fed governor Christopher Waller said insurance and ship-to-ship transfers linked to Iranian attack risks were reportedly adding $20–$30 a barrel to oil prices; refining constraints could also keep US diesel…
Barrick's North American Gold Unit Files for New York IPO, Seeking Up to $6 Billion - finance.biggo.com
American Barrick Gold has filed for a New York IPO under ticker ABGC, with market estimates suggesting fundraising of up to $6 billion; pricing remains undisclosed. Its assets include 61.5% of Nevada Gold Mines and 60% of Pueblo Viejo, with 2025 attributable production of 2 million ounces and reserves of 40 million ounces. Incoming CEO Mark Hill targets…
ING Group expects average gold price at $4,375 in 2027 - Trend News Agency
ING forecasts gold averaging $4,408 per troy ounce in 2026 and $4,375 in 2027, according to its November 10 commodity projections. Despite the lower annual average, its 2027 quarterly forecasts rise from $4,200 in Q1 to $4,300 in Q2, $4,450 in Q3 and $4,550 in Q4. Silver is projected to average $69.5 per ounce in 2026 and $66.5 in 2027, with quarterly…
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 2026-11-11T09:12:32.205035+00:00 · valid until 2026-11-18T09:12:32.205035+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. Market Pulse lists up to six 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.