Gold Prices Rise 0.5% to $4065 per Troy Ounce

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Gold (XAU/USD) is up by 0.5%, currently trading at $4065 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is rising by 0.4%, trading at $1650 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 over-the-counter (OTC) trading, where the main exchange of physical metals takes place through major 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 demand and supply, 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;

- The over-the-counter segment (OTC) 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.