Gold Dips 0.6% on Thursday, Trading Near $4100

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

Platinum (XPT/USD) is also down by 0.7% on Thursday, priced at $1,630 per ounce.

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 OTC trading center where major banks and dealers exchange physical metals, setting benchmark prices (fixing).

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

3. SGE (Shanghai): The key Asian center, growing in influence by offering physical gold trading and impacting 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 over-the-counter (OTC) segment shows even larger volumes — approximately $60-80 billion USD per day.

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