Gold trades at $4,160 per troy ounce on Friday

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Gold trading at $4,160 per troy ounce on Friday

On Friday, the precious metals market saw the following changes:

- Gold (XAU/USD) dropped by 1.2%, trading at $4,160 per ounce (31.1 grams).

- Platinum (XPT/USD) fell by 0.7%, trading at $1,680 per ounce (31.1 grams).

The main trading hubs for precious metals are concentrated in the London Over-the-Counter (OTC) 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. The OTC market, where the main exchange of physical metals takes place through major banks and dealers, setting benchmark prices (fixing) – LBMA (London);

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

3. The key Asian center, which is growing and offering physical gold trading, influencing Asian supply and demand, especially in the context of China – SGE (Shanghai).

The gold market demonstrates high liquidity:

- Futures trading generates 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.