Market Correction: Gold Trades at $4581 Level

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Gold is trading at $4,581 per troy ounce.

On Tuesday, gold (XAU/USD) on the global precious metals market is down by 0.3% and is trading at $4,581 per troy ounce (31.1 grams) of gold.

Platinum on the spot market (XPT/USD) is down by 1.5% and is trading at $2,300 per troy ounce (31.1 grams) of platinum.

The main trading platforms 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 the global trading volume:

1. The OTC trading center, where the main exchange of physical metals takes place through major banks and dealers, setting standard prices (fixing) - LBMA (London);

2. The main platform for trading futures and options on precious metals, setting benchmark prices in the USA - COMEX (New York);

3. The key Asian center, which is growing, offering physical gold trading and influencing Asian demand and supply, 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 over-the-counter segment (OTC) shows even larger volumes - about $60-80 billion per day.

The review was presented by Yulia Grishchenko, a member of the Expert Council of the Moscow Exchange Listing Committee, 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.