Dont really think you'd be able to hear the grind from a loose centercap from inside the car, but to check for sure, take the centercap out, and go for a drive. If it really is that, use some clear silicone around the edges of the cap, put it back on, and let it dry. That will keep it nice and snug.
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Just call me.............Mr Hyde
03 Topaz Blue 540i M-Sport
The TL-S / The 540i