Tayyib checkTIMINGS
The IDCC updates its prices based on timings around the LBMA London Bullion Market and UAEGD UAE Good Delivery timings. Our standard fixings are 6am, 12 noon and 3pm GMT, Monday to Friday.
The price is updated every 15 seconds, 24/7.
This is how often the pricing is updated, and it flows through to Mahr, Zakātand every other published figure. All our services, infrastructure and IDCC databases are updated.
The IDCC nominal value system, IDCC-V rate
SPOT + NOMINAL = IDCC RATE
IDCC-V RATE
——
fixed, from the rate feed
This applies for IDCC Company Members. IDCC Registered Members pay fees for precious metal or digital asset usage of hallmarking, certification, brand marks, API requests, QR code sticker printing, network and database calls and PDF storage for certificates.
How a figure is built
Market spot is taken
The spot price for the metal is read in USD, then converted at the prevailing rate into AED, GBP and EUR. Nothing is smoothed or averaged.
The IDCC nominal value is added
A nominal value is added to spot for each metal and currency. This is what makes the published figure the IDCC rate rather than a market quote.
The gram rate is derived
The troy ounce figure is divided by 31.1035 to give the gram rate, which is the figure every weight-based standard uses.
Weights are applied
Nisāb at 87.48 g of gold or 612.36 g of silver. Mahr al-Azwāj at 1,530.9 g and Mahr al-Fāṭimī at 1,469.7 g. The weights are fixed; only the gram rate moves.
The figure is published
The same number then appears in the ticker, on the standard pages, in the certificates and on the API, so no two places can disagree.
The published rate over time
Drawn from the same IDCC rate series as the zakāt nisāb and mahr pages, so the three figures can never disagree.