Commodities
NYMEX Precious Metals Prices Fall August 26
New York's NYMEX (New York Merchantile Exchange) saw precious metals prices decline on August 26. The price of gold futures dropped by 0.86% to $4598.20, while silver futures fell by 1.90% to $67.99. Platinum futures also took a hit, down 0.90% to $1859.20.
The measurement unit for these prices is 1 troy ounce (31.1 grams). NYMEX, founded in 1882, currently operates two divisions: the NYMEX Division and the COMEX Division. The former handles trades of oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions, while the latter focuses on gold, silver, copper, and aluminum.