Gold rises 2% to trade near $4,740 per troy ounce on Thursday

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On Thursday, gold (XAU/USD) rose by 2%, trading at around $4,740 per troy ounce (31.1 grams).

Platinum (XPT/USD) also saw a 4.6% increase on Thursday, with its price reaching $2,070 per ounce.

The main trading hubs for precious metals are concentrated in the London Over-the-Counter market (LBMA), the American futures market (COMEX), and the Shanghai Gold Exchange (SGE).

These three centers account for over 90% of global trading volume:

1. LBMA (London): The OTC market where major banks and dealers trade physical metals, setting benchmark prices (fixing);

2. COMEX (New York): The primary platform for trading futures and options on precious metals, setting the standard prices in the US;

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

It is worth noting that the gold market demonstrates 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 Alexei Grishchenko, Ph.D., 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.