Gold Gains 0.3% on Thursday, Trading Near $4123

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On Thursday, gold (XAU/USD) is up by 0.3%, trading around $4,123 per troy ounce (31.1g).

Platinum (XPT/USD) is also gaining 1.7% on Thursday, priced at $1,660 per ounce.

The major trading hubs for precious metals are concentrated in the London Over-the-Counter (OTC) 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. LBMA (London): The OTC trading center where the majority of physical metal exchange takes place through major banks and dealers, setting benchmark prices (fixing);

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

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

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

- Futures trading generates 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.