Gold prices dip 0.1% on global markets Tuesday

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On Tuesday, gold (XAU/USD) is trading down 0.1% at $4,400 per troy ounce (31.1 grams) on the global precious metals market.

Platinum (XPT/USD) on the spot market is up 0.1% and is currently priced at $1,877 per troy ounce (31.1 grams).

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. The over-the-counter (OTC) trading center, where physical metals are primarily exchanged through major banks and dealers, setting benchmark prices - LBMA (London);

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

3. The key Asian hub, which is growing and offering physical gold trading, influencing Asian supply and demand, especially 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 over-the-counter (OTC) segment shows even larger volumes - approximately $60-80 billion per day.

This analysis 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.