Gold Dips 0.1% to Trade at $4437 on Global Precious Metals Market on Tuesday

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On Tuesday, gold (XAU/USD) dropped by 0.1% and is trading at $4,437 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) rose by 0.9% and is quoted at $1,812 per troy ounce (31.1 grams).

The main trading venues 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. The OTC trading center, where the main exchange of physical metals takes place through large banks and dealers, setting standard prices (fixing) - LBMA (London);

2. The primary platform for trading futures and options on precious metals, setting benchmark 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 demonstrates 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.