Gold Gains 0.8% to Trade Near $5015 per Troy Ounce on Thursday

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On Thursday, gold (XAU/USD) rose by 0.8%, trading at around $5015 per troy ounce (31.1g).

Platinum (XPT/USD) also saw a 0.9% increase on Thursday, trading at $2100 per ounce.

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 global trading volume:

1. LBMA (London): The OTC trading hub where the majority of physical metal exchanges occur through major banks and dealers, setting benchmark prices (fixing);

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

3. SGE (Shanghai): The key Asian center, growing in influence by offering physical gold trading and impacting Asian supply and demand, particularly in the context of China.

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

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

- The over-the-counter (OTC) segment shows even larger volumes — approximately $60-80 billion per day.

This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.