Gold trades at $4,108 per troy ounce on Friday

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Gold trades at $4,108 per troy ounce on Friday

On Friday in the precious metals market:

- Gold (XAU/USD) is down 0.4%, trading at $4,108 per ounce (31.1 grams).

- Platinum (XPT/USD) rises 0.7%, trading at $1,630 per ounce (31.1 grams).

The main trading platforms for precious metals are focused on 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. The OTC trading center, where the main exchange of physical metals takes place through major banks and dealers, setting standard prices (fixing) - LBMA (London);

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

3. The key Asian center, which is growing, offering physical gold trading and 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 - about $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 Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.