Gold Prices Edge Up 0.2% to $4185 on Global Markets

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In the global precious metals market, gold (XAU/USD) is up by 0.2%, currently trading at $4,185 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is rising by 0.5%, trading at $1,700 per troy ounce (31.1 grams).

The major trading hubs for precious metals are concentrated 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. LBMA (London): The OTC trading center where the main exchange of physical metals 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 benchmark prices in the U.S.

3. SGE (Shanghai): The key Asian center that is growing, 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 provides an average daily turnover of around $50-70 billion;

- The over-the-counter (OTC) segment shows even larger volumes — approximately $60-80 billion per day.

This overview was presented by Alexey Grishchenko, Doctor of Economics, 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.