Gold trades at $4,465 per troy ounce on Friday

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Gold Trades at $4,465 per Troy Ounce on Friday

On Friday in the precious metals market:

- Gold (XAU/USD) is down 0.2%, trading at $4,465 per ounce (31.1 grams).

- Platinum (XPT/USD) is down 0.5%, trading at $1,888 per ounce (31.1 grams).

The main trading platforms 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. The OTC trading center, where physical metals are primarily exchanged through major banks and dealers, setting benchmark prices (fixing) - LBMA (London);

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

3. The key Asian center, which is growing by offering physical gold trading and 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.

This overview was presented by Alexey Grishchenko, Doctor of Economics, 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.