Gold trades at $4,670 per troy ounce on Friday

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Gold trades at $4,670 per troy ounce on Friday

On Friday, precious metals markets showed the following dynamics:

- Gold (XAU/USD) is down 0.6%, trading at $4,670 per ounce (31.1 grams).

- Platinum (XPT/USD) is down 0.2%, trading at $1,970 per ounce (31.1 grams).

The main trading hubs for precious metals are focused on 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 trading center, where the main exchange of physical metals takes place through major banks and dealers, setting standard prices (fixing) - LBMA (London);

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

3. The key Asian center, which is growing by offering physical gold trading and 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.

This overview was presented by Alexey Grishchenko, Ph.D., Professor of the Department of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.