Gold prices rise 0.4% in global precious metals market

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In the global precious metals market, gold (XAU/USD) is up by 0.4%, currently trading at $4,183 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is gaining 1.5%, trading at $1,650 per troy ounce (31.1 grams).

The main 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. LBMA (London): The center for over-the-counter (OTC) trading, 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, which 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 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 "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.