Gold Trades at $5080 per Troy Ounce

© ООО Региональные новости

Gold trades at $5,080 per troy ounce.

On Tuesday, gold (XAU/USD) is up 1.5% and is trading at $5,080 per troy ounce (31.1 grams) of gold on the global precious metals market.

Platinum on the spot market (XPT/USD) is up 4.5% and is trading at $2,712 per troy ounce (31.1 grams) of platinum.

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. 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 platform for trading futures and options on 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 - around $60-80 billion per day.

This overview was presented by Yulia Grishchenko, 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.