Gold Trades at $4,832 per Troy Ounce

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Gold Trades Around $4,832 per Troy Ounce

On Thursday, gold (XAU/USD) is down by 0.1%, trading at approximately $4,832 per troy ounce (31.1 grams).

Platinum (XPT/USD) is also declining by 0.5% on Thursday, with its price standing at $2,473 per ounce.

The major trading hubs for precious metals are concentrated in the London Over-the-Counter (OTC) market (LBMA), the U.S. 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 majority of physical metal exchanges occur through major banks and dealers, setting benchmark prices (fixing).

2. COMEX (New York): The primary platform for trading futures and options on precious metals, setting reference prices in the U.S.

3. SGE (Shanghai): The key Asian hub that is growing, offering physical gold trading and influencing Asian supply and demand, particularly in the context of China.

It is worth noting that the gold market exhibits high liquidity:

- Futures trading provides an average daily turnover of around $50-70 billion;

- The OTC segment shows even larger volumes — approximately $60-80 billion per day.

This overview was presented by Yulia Grishchenko, a member of the Expert Council on Listing at 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.