Commodities
NYMEX Sees Precious Metal Prices Surge on August 7th
The New York Merchantile Exchange (NYMEX) saw an increase in precious metal prices on August 7th. The price of gold futures rose by 2.33% to $4340.70 per troy ounce, while silver futures increased by 3.08% to $63.33 per troy ounce. Platinum futures also saw a slight gain, rising 0.55% to $1759.60 per troy ounce.
The measurement unit for these prices is 1 troy ounce (31.1 grams). The NYMEX has two divisions: the NYMEX Division and the COMEX Division. The NYMEX Division handles trades of oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions, while the COMEX Division focuses on gold, silver, copper, and aluminum.