Gold rises 0.4% to trade at $4400 on global markets

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In the global precious metals market on Wednesday, gold (XAU/USD) is up by 0.4% and trading at $4,400 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is rising by 1%, quoted at $1,760 per troy ounce (31.1 grams).

The main trading venues 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. LBMA (London): The OTC trading hub where the main exchange of physical metals takes place through major banks and dealers, setting benchmark prices (fixing);

2. COMEX (New York): The primary platform for trading futures and options on precious metals, setting reference 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, 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 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 at the Higher School of Management, Financial University under the Government of the Russian Federation.