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Gold is trading at $4,420 per troy ounce on Monday.
In the precious metals market, gold (XAU/USD) is showing a 2% increase, with the current quote at $4,420 per troy ounce (31.1 g).
Platinum on the spot market (XPT/USD) is up 4%, trading at $2,225 per troy ounce (31.1 g).
The main trading platforms for precious metals are concentrated in the London Over-the-Counter (OTC) market (LBMA), the American futures market (COMEX), and the Shanghai Gold Exchange (SGE).
These three centers account for over 90% of global trading volume:
1. LBMA (London): The OTC trading center where the main exchange of physical metals takes place through large banks and dealers, setting standard prices (fixing);
2. COMEX (New York): The main platform for trading futures and options on precious metals, setting benchmark prices in the US;
3. SGE (Shanghai): The key Asian center that is growing, offering physical gold trading and influencing Asian demand and supply, especially in the context of China.
It is worth noting that the gold market demonstrates high liquidity:
- Futures trading provides an average daily turnover of around $50-70 billion;
- The OTC segment shows even larger volumes — about $60-80 billion per day.
Reviewed by Yulia Grishchenko, member of the Expert Council on Listing of the Moscow Exchange, Ph.D. in Economics, 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.
