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Gold is trading at $4,472 per troy ounce on Friday.
On Friday, in the precious metals market:
- Gold (XAU/USD) is up by 0.1%, with its price at $4,472 per ounce (31.1 g).
- Platinum (XPT/USD) is down by 0.2%, trading at $2,294 per ounce (31.1 g).
The main trading venues for precious metals are concentrated in the London Over-the-Counter 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. The OTC trading center, where the main exchange of physical metals takes place through large banks and dealers, setting standard prices (fixing) - LBMA (London);
2. The main futures and options trading platform for precious metals, setting benchmark prices in the US - COMEX (New York);
3. The key Asian center, which is growing, offering physical gold trading and influencing Asian supply and demand, especially in the context of China - SGE (Shanghai).
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.
