Gold trades at $4,100 per troy ounce on Tuesday

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Gold prices fell 0.5% to $4,100 per troy ounce on Tuesday.

In the precious metals market:

- Gold (XAU/USD) was trading at $4,100 per ounce (31.1 grams).

- Platinum (XPT/USD) dropped 0.5% to $1,550 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 market, where physical metals are predominantly exchanged through major banks and dealers, setting benchmark prices (fixing) - LBMA (London).

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

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

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