In some cases, the lead is pronounced as /led/ when it's used as

 

³lead /ˈlɛd/ noun

plural leads

 

1 [noncount] : a heavy and soft metal that has a gray color
▪ a pipe made of lead — often used before another noun ▪ a lead pipe ▪ lead crystal [=glass made with lead in it] ▪ lead poisoning [=poisoning from eating, drinking, or touching something with lead in it] ▪ lead-free gasoline [=gasoline that does not contain lead]

 

2 : a thin stick of dark material used in pencils to make marks [noncount] ▪ a pencil with black lead ▪ a lead pencil [count] ▪ pencils with broken leads

 

3 [noncount] chiefly US, informal : bullets
▪ They shot him full of lead.

get the lead out

US, informal : to begin going or moving more quickly
▪ Get the lead out! If we don't leave in five minutes we'll be late for the movie!

go over/down like a lead balloon

 

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