「[金]{きん}」can indeed be viewed as containing semantic「呂」, semantic「王」, and phonetic「[今]{きん}」.
「王」is a depiction of the blade of a battle axe, used as a symbol of power/authority > king > prince.
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金

小臣𪺕卣
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金

大盂鼎
集成2837今
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In「金」,「王」is being used for the meaning metal (battle-axe), emphasised here as an item of metallic manufacture.
As discussed before,「亼」is a component in「今」. The more complex story is that, early on during the Shang Dynasty, both「亼」and「今」were used to represent the same word.「亼」is「口」written upside-down, while「今」is「曰」(to speak) written upside-down. The shape of「曰」is derived from「口」; see What's the deal with/origin of the character 曰?.
商
甲

後1.11.9
合集36955商
甲

鐵110.4
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夨令方彝
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說文解字
東漢
隸

老子銘碑
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「今」is no longer used nowadays for its original meaning, which is now written as「吟・噤」.「今」(Zhengzhang OC: /*krɯm/) was originally a depiction of a blocked mouth, indicating the meaning unable to speak, and it may share etymology with「禁」(also /*krɯm/; taboo, warning, prohibition).
「呂」depicts metal disks/plates, representing a word now written as「鋁」(copper plates, now re-interpreted as aluminium).
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乙8854
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貉子卣
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效父簋
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簡

上・䊷・15
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說文解字
今
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Note:「呂」had the same graphical origins as「⼎」, both representing metal disks/plates made from a forging process. While「呂」represented a word now written as「鋁」,「⼎」represented a word now written as「鉼」(metal plates).
You may later come across resources telling you that「⼎」means ice, commonly used as a semantic component to do with ice/cold. In truth, this is a phonetic loan;「⼎」>「鉼」sounded similar to the word now written as「冰」(Shinjitai:「氷」; ice), and was used early on to represent this word.
Bringing these components together:
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過伯簋
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金

師㝨簋
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秦
簡

日甲90背
今
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References: