Gold holds steady near $4,016 per troy ounce in Friday trading

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Gold prices hover around $4016 per troy ounce on Friday.

On Friday, the precious metals market:

- Gold (XAU/USD) is down 0.2%, trading at $4016 per ounce (31.1 grams).

- Platinum (XPT/USD) is down 0.3%, trading at $1590 per ounce (31.1 grams).

The main trading platforms 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 trading center, where the majority of physical metal exchanges take place through major banks and dealers, setting standard prices (fixing) - LBMA (London);

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

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

The gold market shows high liquidity:

- Futures trading provides an average daily turnover of around $50-70 billion;

- The OTC segment shows even larger volumes - about $60-80 billion per day.

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