Gold prices rise 0.6% to $4,526 per troy ounce

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Gold (XAU/USD) is currently trading up by 0.6%, with a spot price of $4,526 per troy ounce (31.1 grams).

Platinum (XPT/USD) on the spot market is surging by 3.5%, trading at $1,934 per troy ounce (31.1 grams).

The major trading hubs for precious metals are the London Over-the-Counter (OTC) 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 center for OTC trading, where the majority of physical metal exchanges occur through major banks and dealers, setting benchmark prices (fixing);

2. COMEX (New York): The primary venue for trading futures and options on precious metals, setting reference prices in the U.S.;

3. SGE (Shanghai): The key Asian hub, which is 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 exhibits 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 Higher School of Management of the Financial University under the Government of the Russian Federation.