Gold Edges Up 0.1% to Trade at $4,715 per Troy Ounce

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Gold (XAU/USD) is seeing a 0.1% increase, currently trading at $4,715 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is up by 1%, trading at $2,040 per troy ounce (31.1 grams).

The main trading hubs 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. 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 platform for trading futures and options on precious metals, setting the benchmark prices in the U.S.;

3. SGE (Shanghai): The key Asian hub, which is growing and offering physical gold trading, influencing Asian demand and supply, particularly in the context of China.

It is worth noting that the gold market exhibits high liquidity:

- Futures trading accounts for 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, Doctor of Economic Sciences, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.