Gold trades at $5,090 per troy ounce on Friday

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Gold is trading at $5,090 per troy ounce on Friday.

On Friday in the precious metals market:

- Gold (XAU/USD) is up 0.2%, trading at $5,090 per ounce (31.1 grams).

- Platinum (XPT/USD) is down 0.2%, trading at $2,106 per ounce (31.1 grams).

The main trading venues for precious metals are concentrated in the London Over-the-Counter (OTC) 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. The OTC market, where the majority of physical metal transactions occur through major banks and dealers, setting benchmark prices - LBMA (London);

2. The primary futures and options trading platform, setting the benchmark prices in the U.S. - COMEX (New York);

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

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, Doctor of Economics, 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.