Gold Holds Steady Near $4,200 per Troy Ounce in Friday Trading

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Gold prices hold steady around $4,200 per troy ounce on Friday.

On Friday, precious metals markets saw the following movements:

- Gold (XAU/USD) gained 1.6%, trading at $4,200 per ounce (31.1 grams).

- Platinum (XPT/USD) rose by 3%, trading at $1,700 per ounce (31.1 grams).

The major 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 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 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 generates an average daily turnover of around $50-70 billion;

- The OTC segment sees even larger volumes - approximately $60-80 billion per day.

Analysis provided 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.