Gold prices rise 0.7% to hit $4163 on global markets

© ООО Региональные новости

In the global precious metals market, gold (XAU/USD) is up by 0.7%, currently trading at $4,163 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is gaining 2%, trading at $1,730 per troy ounce (31.1 grams).

The main trading hubs 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 market where major banks and dealers exchange physical metals, setting benchmark prices (fixing).

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

3. SGE (Shanghai): The key Asian hub, growing in influence by offering physical gold trading and impacting Asian supply and demand, particularly in the context of China.

It is worth noting that the gold market demonstrates high liquidity:

- Futures trading accounts for 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, Ph.D., Professor of the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.