Gold trades at $4,750 per troy ounce on Friday

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Gold Trades at $4,750 per Troy Ounce on Friday

On Friday, the precious metals market saw the following movements:

- Gold (XAU/USD) rose by 0.2%, trading at $4,750 per ounce (31.1 grams).

- Platinum (XPT/USD) fell by 2%, trading at $2,050 per ounce (31.1 grams).

The main trading platforms for precious metals are concentrated in 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. The OTC market, where physical metals are primarily exchanged through major banks and dealers, setting benchmark prices (fixing) - LBMA (London);

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

3. The key Asian center, 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 OTC segment shows even larger volumes, approximately $60-80 billion per day.

Overview provided by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.