Gold Dips 0.5% to Trade at $5005 per Troy Ounce

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In the precious metals market, gold (XAU/USD) is down by 0.5%, currently trading at $5005 per troy ounce (31.1g).

Platinum on the spot market (XPT/USD) is up by 2.5%, trading at $2070 per troy ounce (31.1g).

The main trading hubs for precious metals are concentrated in the London Over-the-Counter market (LBMA), the U.S. 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 hub 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 reference prices in the U.S.;

3. SGE (Shanghai): The key Asian center, growing in importance 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 over-the-counter segment (OTC) 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 at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.