Gold Gains 0.6% to Trade Near $4100 per Troy Ounce on Thursday

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On Thursday, gold (XAU/USD) is up by 0.6%, trading around $4,100 per troy ounce (31.1 grams).

Platinum (XPT/USD) is also rising by 1.6% on Thursday, with its price at $1,610 per ounce.

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. 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 venue for trading futures and options on precious metals, setting the standard prices in the U.S.

3. SGE (Shanghai): The key Asian center that is growing, 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 provides an average daily turnover of around $50-70 billion USD;

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

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