Gold trades at $4,550 per troy ounce on Friday

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Gold trades at $4,550 per troy ounce on Friday

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

- Gold (XAU/USD) increased by 0.7%, trading at $4,550 per ounce (31.1 grams).

- Platinum (XPT/USD) rose by 0.2%, with prices at $1,870 per ounce (31.1 grams).

The main trading hubs for precious metals are concentrated in the London over-the-counter 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. The over-the-counter (OTC) market, where physical metals are primarily exchanged through major banks and dealers, setting benchmark prices (fixing) - LBMA (London);

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

3. The key Asian center, which is growing by offering physical gold trading and influencing Asian supply and demand, particularly in the context of China - SGE (Shanghai).

The gold market demonstrates high liquidity:

- Futures trading provides an average daily turnover of around $50-70 billion;

- The over-the-counter (OTC) segment shows even larger volumes, approximately $60-80 billion per day.

Overview 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.