Gold prices dip 0.3% to $4000 per troy ounce

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In the precious metals market, gold (XAU/USD) is down by 0.3%, currently trading at $4,000 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is falling by 0.4%, trading at $1,590 per troy ounce (31.1 grams).

The main trading platforms 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 center for OTC trading where the main exchange of physical metals takes place through large banks and dealers, setting standard prices (fixing);

2. COMEX (New York): The primary platform for trading futures and options on precious metals, setting benchmark 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, especially 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;

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

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