Gold trades at $4,124 per troy ounce in international markets

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Gold is trading at $4,124 per troy ounce on international markets.

On Tuesday, precious metals markets saw the following movements:

- Gold (XAU/USD) fell by 0.3%, trading at $4,124 per ounce (31.1 grams).

- Platinum (XPT/USD) rose by 0.4%, trading at $1,650 per 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. The OTC trading center, where the bulk of physical metal exchange takes place through major banks and dealers, setting benchmark prices (fixing) - LBMA (London);

2. The primary platform for trading futures and options on precious metals, setting benchmark prices in the U.S. - COMEX (New York);

3. The key Asian hub, which is growing and offering physical gold trading, influencing Asian supply and demand, especially in the context of China - SGE (Shanghai).

This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management at the Faculty of Higher School of Management, Financial University under the Government of the Russian Federation.