NYMEX Releases Precious Metals Price Updates

The New York Merchantile Exchange (NYMEX), a US futures market founded in 1882, has reported the current prices of precious metals.

According to NYMEX, the price of gold futures is down by 1.38% to $4429.80 per troy ounce, while silver futures is down by 0.74% to $66.05. In contrast, platinum futures is up by 0.90% to $1826.00.

The measurement unit for these prices is 1 troy ounce (31.1 grams), which NYMEX uses as a standard for all trades. The exchange's two divisions handle different types of commodities: the NYMEX Division deals with oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions, while the COMEX Division handles gold, silver, copper, and aluminum.