Gold Edges Up 0.1% to Trade Near $5180 per Troy Ounce on Thursday

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On Thursday, gold (XAU/USD) rose by 0.1%, trading around $5180 per troy ounce (31.1g).

Platinum (XPT/USD) also saw an increase of 1.1% on Thursday, with its price reaching $2200 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 hub for OTC trading where physical metals are primarily exchanged through major banks and dealers, setting benchmark prices (fixing);

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

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

It is worth noting that 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—approximately $60-80 billion per day.

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