Gold rises 1.5% to trade at $4070 on global markets on Tuesday

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On Tuesday, gold (XAU/USD) is up 1.5% and trading at $4,070 per troy ounce (31.1 grams) of gold on the global precious metals market.

Platinum on the spot market (XPT/USD) is rising by 3.2% and is currently quoted at $1,640 per troy ounce (31.1 grams) of platinum.

The major trading hubs 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. The OTC trading center, where the main exchange of physical metals takes place through large banks and dealers, setting standard prices (fixing) - LBMA (London);

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

3. The key Asian center, which is growing by 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 - 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 Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.