Gold Gains 0.9% to Trade Near $4060 per Troy Ounce on Thursday

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On Thursday, gold (XAU/USD) is up by 0.9%, trading at around $4060 per troy ounce (31.1g).

Platinum (XPT/USD) is also rising by 2.1% on Thursday, with its price at $1416 per ounce.

The main trading platforms 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. LBMA (London): The OTC trading hub where the majority of physical metal exchanges occur through major banks and dealers, setting benchmark prices (fixing);

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

3. SGE (Shanghai): The key Asian center, which is growing by 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 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.