Gold trades at $4,464 per troy ounce on Friday

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Gold trades at $4,464 per troy ounce on Friday

On Friday, precious metals markets saw the following:

- Gold (XAU/USD) rose by 0.1%, trading at $4,464 per ounce (31.1 grams).

- Platinum (XPT/USD) gained 0.2%, priced at $1,808 per ounce (31.1 grams).

The main trading hubs for precious metals are focused on 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) trading center, where the majority of physical metal exchanges occur through major banks and dealers, setting benchmark prices (fixing) - LBMA (London);

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

3. The key Asian hub, which is growing and offering physical gold trading, 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 segment (OTC) shows even larger volumes - approximately $60-80 billion per day.

This overview was presented by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.