Gold Dips 0.7% to Trade Near $4930 Per Troy Ounce on Thursday

13:07; 05 February 2026 year

### Precious Metals Suffer Losses Amidst Global Trading Activity On Thursday, gold (XAU/USD) dropped by 0.7%, trading at around $4930 per troy ounce (31.1g). Platinum (XPT/USD) saw a steeper decline, falling by 6% to $2100 per ounce. The main trading hubs for precious metals are concentrated in three key markets: 1. **LBMA (London)**: The center for over-the-counter (OTC) trading, where the bulk of physical metal exchanges occur through major banks and dealers, setting benchmark prices. 2. **COMEX (New York)**: The primary platform for trading futures and options on precious metals, establishing reference prices in the U.S. 3. **SGE (Shanghai)**: A major Asian hub that is growing in influence, offering physical gold trading and shaping Asian supply and demand dynamics, particularly in the context of China. These three centers account for over 90% of global trading volume. It is worth noting that the gold market exhibits high liquidity: - Futures trading typically sees a daily turnover of around $50-70 billion. - The OTC segment demonstrates even larger volumes, averaging 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.

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