Gold Holds Steady Near $4,183 per Troy Ounce in Friday Trading

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Gold holds steady around $4,183 per troy ounce on Friday.

On Friday, the precious metals market:

- Gold (XAU/USD) is up 0.2%, trading at $4,183 per ounce (31.1 g).

- Platinum (XPT/USD) rises 0.6%, trading at $1,640 per ounce (31.1 g).

The main trading hubs for precious metals are focused on the London Over-the-Counter 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. 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 offers physical gold trading, influencing Asian supply and demand, especially 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 OTC segment shows even larger volumes – approximately $60-80 billion per day.

This overview was presented 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.