Gold trades at $4,290 per troy ounce on Friday

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Gold trades at $4,290 per troy ounce on Friday

On Friday, the precious metals market:

- Gold (XAU/USD) rises by 1.1%, trading at $4,290 per ounce (31.1 grams).

- Platinum (XPT/USD) gains 2%, trading at $1,760 per ounce (31.1 grams).

The main trading platforms for precious metals are concentrated in the London Over-the-Counter (OTC) 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 market, where the bulk of physical metal exchange takes place through major banks and dealers, setting benchmark prices (fixing) - LBMA (London);

2. The primary futures and options trading platform, setting reference 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 shows 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, Ph.D., 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.