Tool lesson

Commodity Board: Separate Spot, Macro, Active Month, And Carry Month

A beginner-safe Commodity Board lesson for preventing false comparisons by naming whether a row is global spot context, macro-driver context, active local futures, or deferred carry structure.

12 minBeginner6 chapters

Educational only

The examples teach workflow and risk framing. They do not provide trade recommendations, personalized advice, leverage guidance, or guaranteed outcomes.

Chapter 01

Spot metals are global reference context

Trader question

Am I reading global spot context or a local futures contract?

Spot gold and spot silver belong in the global-reference lane. They can frame the board read, but they should not be merged with active regional futures without unit, source, and contract checks.

Desk checklist

Put spot metals in the global-reference lane.
Keep source and unit visible.
Do not collapse spot and futures into one price story.

Interactive proof

Spot tape group, spot gold/silver rows, lane labels, and source fields

Sort spot rows into the Spot lane and compare the note against an active regional futures row.

1Spot laneGlobal reference contextSpot metals help frame the global bullion reference; they should not be collapsed into local futures prices.

2Macro laneDrivers, not commoditiesDXY and US10Y belong in a driver rail because they can pressure bullion without becoming tradable commodity rows.

3Active local marketFirst local futures laneThe active month is the first local contract read, but its contract identity and unit still need to stay visible.

4Carry local marketDeferred structure contextCarry or deferred contracts can show structure context; they are not the same instrument as the active month.

5Detail gateLane before chartOpen detail only after naming the lane, source, unit, and what the row can actually explain.

Lane separation prevents false comparisons. Spot references, macro drivers, active local market contracts, and carry local market contracts answer different questions, so the lane should be named before opening detail.

Interactive desk lab

Commodity Board Lane Separator

A practical Commodity Board lab for sorting rows into Spot, Macro, Active local market, and Carry local market lanes before opening detail or choosing an adjacent tool.

Native scroll

48s Remotion sceneCommodityBoardSpotVsFuture

Spot gold and local market gold are not the same row

Spot gold and Local Market Gold separate into source, unit, and contract labels so the learner does not collapse them into one price story.

Storyboard beats4 cues

Spot gold and Local Market Gold appear with similar names.

Source labels appear first.

Unit and contract labels appear next.

A comparison line is replaced by context line.

Remotion code

CommodityBoardSpotVsFuture

The snippet is stored with the lesson so a future Remotion project can render the chapter video.

Show component snippet

import {AbsoluteFill, Easing, Sequence, interpolate, useCurrentFrame} from "remotion";

const cards = [
  {title: "Spot gold", lane: "Spot reference", source: "global bullion reference", unit: "USD/oz context", color: "#c98718"},
  {title: "MCX Gold Jun", lane: "Active local futures", source: "local futures snapshot", unit: "contract month and local unit", color: "#20724f"},
];

export const CommodityBoardSpotVsFuture = () => {
  const frame = useCurrentFrame();

  return (
    <AbsoluteFill style={{background: "#071528", color: "#fff8e8", padding: 72}}>
      <h1 style={{fontSize: 53, lineHeight: 1}}>Spot context and local futures context travel separately.</h1>
      <div style={{marginTop: 58, display: "grid", gridTemplateColumns: "1fr 1fr", gap: 28}}>
        {cards.map((card, index) => {
          const opacity = interpolate(frame, [16 + index * 16, 44 + index * 16], [0, 1], {extrapolateLeft: "clamp", extrapolateRight: "clamp", easing: Easing.bezier(0.16, 1, 0.3, 1)});
          return (
            <div key={card.title} style={{opacity, padding: 28, background: "#fffdf7", color: "#071528", borderTop: "10px solid " + card.color}}>
              <strong style={{fontSize: 34}}>{card.title}</strong>
              <p style={{marginTop: 18, fontSize: 25, color: "#805407", fontWeight: 900}}>{card.lane}</p>
              <p style={{marginTop: 14, fontSize: 23, color: "#5d6572"}}>{card.source}</p>
              <p style={{marginTop: 10, fontSize: 23, color: "#5d6572"}}>{card.unit}</p>
            </div>
          );
        })}
      </div>
      <Sequence from={106} layout="none">
        <p style={{marginTop: 30, fontSize: 28, color: "#f9d78b", fontWeight: 900}}>Compare only after source, unit, and contract identity are visible.</p>
      </Sequence>
    </AbsoluteFill>
  );
};

Sources used for this tutorial

Market Watchlocal marketUsed as the official exchange reference for market-watch rows, expiry context, and why active and deferred contracts need visible identity.Gold Trading In The Wholesale MarketWorld Gold CouncilUsed for spot gold market-structure context so learners do not collapse spot reference and futures rows into one price story.US Dollar Index FuturesICEUsed to frame DXY as a dollar-index benchmark that belongs in macro-driver context rather than a commodity lane.Daily Treasury RatesU.S. Department of the TreasuryUsed for US10Y rate context and source/frequency caveats when placing Treasury yields in a macro-driver rail.Understanding Futures Expiration And Contract RollCME Group EducationUsed for contract-month, expiry, and roll framing so active and carry local market rows are treated as different market objects.Market Quote API v2DhanHQUsed as provider documentation for quote snapshots, OHLC fields, and multi-instrument reads behind board lane separation.

Next step

Open the tool with the checklist beside you.

Move from the lesson into the matching Bullion Brains tool, keep the checklist visible, and treat the output as evidence until the caveats are clear.

Open Commodity Board