Gold Dips 0.7% on Thursday, Trading Around $4030

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On Thursday, gold (XAU/USD) fell by 0.7%, trading around $4030 per troy ounce (31.1 grams).

Platinum (XPT/USD) also dropped by 1.1% on Thursday, with its price standing at $1510 per ounce.

The main trading hubs for precious metals are concentrated 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. LBMA (London): The center for over-the-counter (OTC) trading, where the main exchange of physical metals takes place through major banks and dealers, setting standard prices (fixing);

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

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, 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.