Gold prices rise 0.5% in global markets

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In the global precious metals market, gold (XAU/USD) is up by 0.5%, currently trading at $4,091 per troy ounce (31.1 grams).

Platinum on the spot market (XPT/USD) is rising by 0.2%, trading at $1,540 per troy ounce (31.1 grams).

The main trading hubs for precious metals are concentrated in the London Over-the-Counter (OTC) 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 OTC trading center where major banks and dealers exchange physical metals, setting benchmark prices (fixing).

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

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

It is worth noting that the gold market demonstrates high liquidity:

- Futures trading generates 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 Alexei 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.