Gold Gains 0.5% on Thursday, Trading Near $4466 Per Troy Ounce

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On Thursday, gold (XAU/USD) is up by 0.5%, trading around $4,466 per troy ounce (31.1g).

Platinum (XPT/USD) is also rising by 0.4% on Thursday, with its price at $1,863 per ounce.

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. LBMA (London): The hub for over-the-counter (OTC) trading, where major banks and dealers conduct the primary exchange of physical metals, setting benchmark prices (fixing);

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

3. SGE (Shanghai): The key Asian center that is growing rapidly, 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 over-the-counter (OTC) segment shows even higher 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 Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.