"Gold Prices Surge 2.2% to Trade Near $5,554 per Ounce"

13:36; 29 January 2026 year

On Thursday, gold (XAU/USD) has surged by 2.2%, trading at around $5,554 per ounce (31.1 grams). Platinum (XPT/USD) rose by 1.5%, reaching $2,741 per ounce. The major hubs for precious metal trading are the London Over-the-Counter Bullion Market Association (LBMA), the New York-based Commodity Exchange (COMEX), and the Shanghai Gold Exchange (SGE). These three centers account for over 90% of global trading volume: 1. **LBMA (London)**: The leading over-the-counter market for physical metal trading, where major banks and dealers conduct transactions that set standard prices (fixing). 2. **COMEX (New York)**: The primary venue for trading futures and options on precious metals, setting benchmark prices in the United States. 3. **SGE (Shanghai)**: A key Asian hub that is increasingly influential in physical gold trading, significantly impacting Asian demand and supply, particularly in the context of China. Gold markets are characterized by high liquidity: - Futures trading has an average daily turnover of 50-70 billion USD. - The over-the-counter (OTC) segment shows even higher volumes, approximately 60-80 billion USD per day. The overview was presented by Yulia Grishchenko, a member of the listing expert council at the Moscow Exchange, Ph.D. in Economics, and head of the Department of Investment and Management at the Higher School of Management, Financial University under the Government of the Russian Federation.

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