Tool lesson

Fair Value Tracker: Add Landed-Cost Assumptions

A practical Fair Value Tracker lesson for separating normalized COMEX, fair global, fair import, cost profile, gross basis, and net basis without pretending the assumptions are fixed truth.

13 minBeginner5 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

Separate fair global from fair import

Trader question

What changes between normalized COMEX and fair global?

Fair global starts with the converted reference and adds carry or financing context. It is still before the landed-cost profile, so the learner should not treat it as the final import-parity value.

Desk checklist

Start from normalized COMEX.
Add carry and financing as visible assumptions.
Do not call fair global fair import.

Interactive proof

Import Parity normalized COMEX, fair global, carry, and financing fields

Use the mixer to move carry and financing while import costs stay unchanged.

1Normalized COMEXBridge outputThe converted global reference is the starting point before landed-cost assumptions are added.

2Fair globalCarry contextCarry and financing can move the converted reference before import assumptions enter the model.

3Fair importLanded profileImport cost, local premium, and execution friction convert the bridge into a model import value.

4Cost profileEditable assumptionA profile should be named and reviewed; it should not become hidden permanent truth.

5Net basisAfter frictionThe gap that survives the selected cost profile is still a model deviation, not a profit claim.

A landed-cost profile changes the interpretation of the same local price. The lesson is to name the profile, not to claim the profile is universal or permanent.

Interactive desk lab

Landed Cost Assumption Mixer

A practical Fair Value Tracker mixer for separating normalized COMEX, fair global, fair import, cost profile, and net basis without treating assumptions as fixed truth.

Native scroll

45s Remotion sceneFairGlobalCarryVideo

Fair global gets a carry label

The bridge output becomes fair global only after carry and financing assumptions are visibly attached.

Storyboard beats4 cues

Normalized COMEX appears as the bridge output.

Carry and financing labels attach to the reference.

The fair global box forms without landed costs.

The learner sees this as a model input, not final truth.

Remotion code

FairGlobalCarryVideo

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";

export const FairGlobalCarryVideo = () => {
  const frame = useCurrentFrame();
  const width = interpolate(frame, [24, 92], [180, 610], {
    extrapolateRight: "clamp",
    easing: Easing.bezier(0.16, 1, 0.3, 1),
  });

  return (
    <AbsoluteFill style={{background: "#fff8e8", color: "#071126", padding: 72}}>
      <h1>Fair global is the bridge plus carry context.</h1>
      <div style={{marginTop: 58, padding: 22, border: "1px solid #aa8432", width}}>Normalized COMEX</div>
      <Sequence from={42} layout="none"><p style={{fontSize: 34, color: "#2454a6"}}>+ carry + financing</p></Sequence>
      <Sequence from={86} layout="none"><div style={{padding: 22, background: "#071126", color: "#f9d78b"}}>Fair global, not final import parity</div></Sequence>
    </AbsoluteFill>
  );
};

Sources used for this tutorial

local Premium/Discount MethodologyWorld Gold CouncilUsed to teach landed price as a model with import tax, FX, tariff value, and premium/discount caveats.Local Gold Price Premium/DiscountWorld Gold CouncilUsed to keep premium/discount language indicative and directional rather than execution-ready.Gold Contract Specificationlocal marketUsed for local market gold domestic contract context and cost-related caveat language.Silver Contract Specificationlocal marketUsed for local market silver domestic contract context and quote-unit caveats when costs are discussed.Do's and Don'ts of Investing in Securities Marketinvestor educationUsed to keep cost-profile interpretation educational and away from tip-like decisions.

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 Fair Value Tracker