Gold Rises 1% in Global Precious Metals Market on Tuesday

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On Tuesday, gold (XAU/USD) is up 1% and trading at $4,533 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is rising by 2% and is currently quoted at $1,960 per troy ounce (31.1 grams).

The main trading venues for precious metals are concentrated 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 majority of physical metal exchanges occur through major banks and dealers, setting benchmark prices (fixing) – LBMA (London);

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

3. The key Asian center, which is growing and offering physical gold trading, influencing Asian supply and demand, particularly 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 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.