THE MORNING METALS DESK

Precious-metals intelligence before quotes move.

Gold, silver, PGMs, currencies, physical premiums, and benchmark signals in one daily desk brief for jewellers, dealers, refiners, and analysts.

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Spot tape Physical premium Morning brief

SIGNAL BOARD

Drag the market tape.

Move through the signals Lufroma watches each morning: benchmarks, physical premiums, currency pressure, flows, and inventory context.

01

LBMA Fix

AM and PM reference levels in USD, EUR, and GBP.

02

India Premium

IBJA retail rates against converted London benchmark.

03

Dubai Retail

AED-linked local price movement beside India parity.

04

Gold/Silver Ratio

The relative value signal traders keep coming back to.

05

ETF Flow

Paper-market pressure against physical buying context.

06

Vault Holdings

London inventory shifts that frame physical availability.

Market pulse

One board for the morning move.

Metals · monthly move Loading market move
FX lens Loading

Currency pressure changes the local quote even when spot is quiet.

Ratio watch Loading

Silver underperformance can change desk positioning quickly.

Physical market Loading

Local premium is where paper price becomes trade price.

The morning document.

LUFROMADaily Brief
Spot prices · Market snapshot

GOLD Loading…

SILVER Loading

PLATINUM Loading

PALLADIUM Loading

Global precious metals intelligence

LBMA fixes, London vault data, cross-market premium signals, and multi-currency analytics. For jewellers, refiners, dealers, and analysts worldwide.

Use your work email. We send one market brief per weekday.

Lead read

Gold and silver face heavy sell-off as hawkish macro pressure builds.

The precious metals complex is under pressure as oil, inflation fears, rate expectations, and geopolitics combine into a tougher setup for non-yielding assets.

Macro setup Crude above $107 + inflation fears + rate-hike expectations = gold headwinds.

Spot prices

Four metals. Six currencies.

Regional spreads

LBMA to Mumbai to Dubai.

Gold/silver ratio

The number the trade watches.

Physical premium

Where the real price lives.

ETF flows

Daily positioning.

Currency overlay

Your currency. Your price.

Live Prices.

XAU/USDXAG/USDXPT/USDXPD/USDEURGBPINR

Analyst notes.

Gold notesIndia premiumVaultsFXETF flowsMacroDealer watch

Jewelry Business Intelligence.

Gold outlookConsumer trendsRetail growthStore operations
View all insights
Trade calendar

Where the market gathers next.

Official industry dates for metals desks, jewellers, refiners, dealers, and analysts to watch.

Gold. Silver. Platinum. Palladium.

Spot prices in USD. Updated daily.

Precious metals spot rates in USD per troy ounce
Metal Symbol USD / oz EUR / oz GBP / oz Change Prev close Day range

USD/EUR/GBP prices via Yahoo Finance futures and open.er-api.com. LBMA AM/PM fix sourced from prices.lbma.org.uk. Indicative, not a regulated benchmark. For informational purposes only.

IBJA Gold Rates
Purity Rate

IBJA indicative retail selling rates (PM). Per gram. Excludes 3% GST and making charges. Source: ibja.co

GJEPC Trade Data

Source: Gem & Jewellery Export Promotion Council (gjepc.org). Updated monthly.

London Vault Holdings

Journal

Market notes with a sharper edge.

Short reads on price, premium, flow, and the signal beneath the headline.

Today's market in context.

Live intelligence on gold, silver, and the signals that move the trade, updated daily.

Jewelry Business Intelligence

Insights for the trade.

Researched reads on the forces shaping gold, retail, and the jewellery business. No fluff — every market claim tied to a source.

Analytics.

Derived signals from live pipeline, updated daily.

Gold / Silver Ratio Loading
60d range loading

Long-term average ~65. Above 80 historically favours silver.

Trend Signal · Gold vs 20d MA Loading
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Price above MA = momentum positive. Below = caution. 60-day window.

30-day Volatility · Gold Loading
Annualized loading

Daily return histogram. Annualized using √252 scaling.

London Gold Vault Holdings
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Monthly · tonnes
LBMA AM/PM Spread · Gold Loading
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Positive = price rose intraday. Proxy for London session direction.

India Premium Signal
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IBJA retail rate vs LBMA AM fix in INR. Reflects duty, currency, and local demand pressure.

Gold · INR Reference Loading

LBMA AM converted at USD/INR. Per 10g. Trade reference only.

Data freshness Loading

Daily build from Yahoo Finance, LBMA, IBJA, GJEPC, open.er-api.com.

Benchmarks

Reference prices, fixes, and ratios.

Benchmark surfaces for desks that watch London, futures, India, and cross-currency parity together.

LBMACOMEXIBJAGold/SilverUSD FixAM/PM
LBMA gold

AM and PM fix

London benchmark levels, intraday spread, and multi-currency reference values.

Silver fix

Ratio pressure

Gold/silver ratio, daily silver move, and London reference alignment.

Duty lens

Parity watch

Local landed price compared with benchmark gold converted into INR.

Futures tape

COMEX context

Futures high, low, previous close, and the live spot direction traders quote against.

Vaults

London vault holdings and physical stock signals.

Monthly metal held in London vaults, tracked against price action and physical-market pressure.

London VaultsLBMAGold tonnesSilver tonnesMoM
Gold

9,372t reference

Latest London gold vault level with month-on-month movement.

Silver

27,453t reference

Silver inventory can reveal stress or comfort in physical availability.

Physical signal

Inventory pressure

Vault moves are read beside premium, ETF, and futures positioning.

Premium Watch

India, Dubai, and local-market spread intelligence.

Physical premiums make the real price visible beyond the headline spot quote.

IBJADubai GoldRBI FXImport dutyRetail parityAED
India

IBJA versus LBMA

Local 999 gold compared with London benchmark converted at USD/INR.

Dubai

Retail spread watch

AED-linked view of theoretical UAE landed price against India reference.

Duty

Policy overlay

Import duty changes, GST context, and premium pressure for dealers.

Desk use

Quote discipline

Premium movement helps jewellers and dealers protect margin in fast markets.

Currencies

One metal price, many local realities.

USD, EUR, GBP, INR, AED, CNY, JPY, and CHF views for cross-border metals teams.

USDEURGBPINRAEDCNYJPYCHF
INR

India quote lens

Spot converted into per-gram and per-10g references for local trade context.

EUR / GBP

London cross-rate

European and UK references beside the USD benchmark.

AED

Dubai comparison

A practical overlay for UAE versus India retail pricing.

Flows

ETF, futures, trade, and physical-market flow.

Signals that explain whether price action has institutional, physical, or currency support.

GLDSLVPPLTPALLGJEPCCOMEXETF Flows
ETF

Positioning pulse

Fund-linked pressure across gold, silver, platinum, and palladium.

Trade

GJEPC exports

Gem and jewellery trade flow context for India-linked demand.

Futures

Range behaviour

Day range and prior close reveal how much of the move is tradable.

Reports

Desk-ready market briefs and watchlists.

Pages for the way metals teams actually work: morning checks, premium reviews, and decision notes.

Morning briefDealer watchRefiner noteJeweller marginMacro lens
Morning

Before quotes move

Spot, fix, currency, premium, and risk points in one desk note.

Afternoon

London session read

AM/PM spread, futures range, and follow-through in Europe.

Weekly

Positioning review

Vault, ETF, premium, and macro watchpoints for the week ahead.

Gold Desk

Gold price intelligence across benchmark and local markets.

Spot, LBMA fix, India parity, vault holdings, and currency overlays for the main metal.

XAU/USDLBMA GoldIBJA 999London VaultsINR / 10g
Benchmark

LBMA fix

AM and PM gold fix values act as the anchor for the daily read.

Retail

India premium

IBJA 999 tells whether local pricing is above or below parity.

Storage

Vault pressure

London gold stock provides the institutional physical backdrop.

Silver Desk

Silver through ratio, volatility, and physical stock.

Silver needs its own lens: ratio behaviour, London stock, and sharper daily percentage moves.

XAG/USDLBMA SilverGold/SilverSLVVault silver
Ratio

Relative value

The gold/silver ratio shows whether silver is being treated as beta or ballast.

Volatility

Sharper moves

Silver can move faster than gold and needs disciplined range context.

Inventory

London stock

Vault holdings add physical-market texture to the screen price.

PGM Desk

Platinum and palladium for specialist desks.

Industrial-linked metals need their own watch: range, demand sensitivity, and relative pressure.

XPT/USDXPD/USDPPLTPALLAuto demand
Platinum

Positioning watch

Useful for premium positioning and slow-moving exposure.

Palladium

Selective demand

Auto-linked demand keeps the signal different from gold and silver.

Range

Day high/low

Large intraday ranges matter for liquidity and quote timing.

Sources

The reference stack behind Lufroma.

Transparent source labels make the product feel serious and auditable.

Yahoo FinanceLBMAIBJAGJEPCopen.er-apiNews RSS
Metals

Yahoo futures

GC, SI, PL, and PA futures are used for live market movement.

Benchmarks

LBMA

Official gold and silver fix data plus London vault holdings.

India

IBJA and GJEPC

Retail gold rate and trade statistics for local demand context.

Methodology

How signals become desk-ready context.

Lufroma combines benchmark data, currency conversion, regional premium math, and historical checks.

ValidationCross-checkParityHistoryFreshness
Normalize

One unit base

Prices are normalized around USD per troy ounce before conversion.

Convert

Local lenses

FX overlays translate global movement into local trading reality.

Validate

Range checks

Benchmark divergence, premium range, and data freshness checks reduce obvious errors.

About Lufroma

The brief the trade should have had years ago.

The precious metals trade runs on information that arrives too late. Lufroma publishes earlier.

01

What we publish

Spot prices, regional spreads, physical premiums, ETF flows, and currency data across the world's major trading hubs.

02

Who we serve

Jewellers, bullion dealers, refiners, exporters, and trade analysts globally — spanning LBMA benchmarks, Asian market signals, and cross-border trade flows.

03

Compliance

All content is informational only. Nothing published constitutes financial or investment advice. Prices are indicative and not a regulated benchmark.