Gold prices rise 0.9% on Thursday, trading near $4291

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On Thursday, gold (XAU/USD) is up by 0.9%, trading around $4,291 per troy ounce (31.1g).

Platinum (XPT/USD) is also rising by 0.1%, with its price at $1,739 per ounce.

The major trading hubs 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 OTC market where major banks and dealers trade physical metals, setting benchmark prices (fixing).

2. COMEX (New York): The primary futures and options market for precious metals, setting U.S. benchmark prices.

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 USD.

- The OTC segment (OTC) shows even larger volumes — approximately $60-80 billion USD per day.

This overview was presented by Alexey Grishchenko, Ph.D., Professor of Operational and Industry Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.