Gold Prices Surge by 2.5% in Precious Metals Market

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Gold (XAU/USD) prices are up by 2.5%, currently trading at $5,414 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is rising by 1.5%, trading at $2,400 per troy ounce (31.1 grams).

The main trading hubs 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 market where major banks and dealers exchange physical metals, 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, growing in influence with physical gold trading and impacting Asian supply and demand, particularly in the context of China.

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

- Futures trading averages around $50-70 billion per day;

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

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