Gold trades at $4,350 per troy ounce on Friday

© ООО Региональные новости

Gold prices hit $4,350 per troy ounce on Friday

On Friday, the precious metals market saw the following movements:

- Gold (XAU/USD) increased by 0.1%, trading at $4,350 per ounce (31.1 grams).

- Platinum (XPT/USD) rose by 0.6%, reaching $1,730 per ounce (31.1 grams).

The main trading platforms for precious metals are concentrated in three major centers:

1. The London Bullion Market Association (LBMA), an over-the-counter (OTC) market where physical metals are primarily exchanged through major banks and dealers, setting benchmark prices.

2. The Commodity Exchange (COMEX) in New York, the leading U.S. futures and options market for precious metals, setting the benchmark prices for the U.S. market.

3. The Shanghai Gold Exchange (SGE), a growing Asian hub that trades physical gold and influences Asian supply and demand, particularly in the context of China.

These three centers account for over 90% of global trading volume:

Gold market liquidity remains high:

- Futures trading generates an average daily turnover of around $50-70 billion.

- The OTC segment sees even larger volumes, with approximately $60-80 billion traded daily.

Analysis provided by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management, Faculty of "Higher School of Management", Financial University under the Government of the Russian Federation.