Gold Edges Up 0.1% to Trade at $5007 per Troy Ounce on Wednesday

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In the precious metals market on Wednesday, gold (XAU/USD) rose by 0.1% and was trading at $5007 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) gained 0.2%, quoted at $2117 per troy ounce (31.1 grams).

The main trading platforms 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. LBMA (London): The OTC trading hub 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 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 generates 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.