Precious Metals Market Overview

© ООО Региональные новости

Gold is trading at $3,970 per troy ounce.

In the precious metals market on Wednesday, gold (XAU/USD) is up by 1% and is trading at $3,970 per troy ounce (31.1 grams) of gold.

Platinum on the spot market (XPT/USD) is up by 0.3%, trading at $1,544 per troy ounce (31.1 grams) of platinum.

The main centers for trading precious metals are the London over-the-counter market, the American futures market, and the Shanghai Gold Exchange (SGE), whose combined share exceeds 90% of the global trading volume.

The gold exchange market is characterized by high liquidity — the average daily turnover on the futures market is approximately $50 billion, while on the over-the-counter market, this figure reaches around $60 billion.

This overview was presented by Yulia Grishchenko, a member of the Expert Council on Listing of the Moscow Exchange, Ph.D. in Economics, and Head of the Department of Financial and Investment Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.