Gold prices rise 0.4% to trade at $4,327 on global markets on Tuesday

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On Tuesday, gold (XAU/USD) is up 0.4% and trading at $4,327 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is up 0.5% and is trading at $1,783 per troy ounce (31.1 grams).

The major trading hubs for precious metals are concentrated in the London Over-the-Counter 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 market, where physical metals are primarily exchanged through major banks and dealers, setting benchmark prices (fixing) – LBMA (London);

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

3. The key Asian center, which is growing and offers 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.

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.