Gold trades at $4,570 per troy ounce on Friday

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Gold prices drop 1.4% to $4,570 per troy ounce on Friday

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

- Gold (XAU/USD) fell by 1.4%, trading at $4,570 per ounce (31.1 grams).

- Platinum (XPT/USD) dropped by 2%, trading at $2,000 per ounce (31.1 grams).

The main trading platforms 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. 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 US - COMEX (New York);

3. The key Asian hub, 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, Ph.D., Professor at the Department of Operational and Sectoral Management, Faculty of "Higher School of Management", Financial University under the Government of the Russian Federation.