NYMEX Sees Precious Metals Prices Soar

The New York Merchantile Exchange (NYMEX), a US futures market founded in 1882, reported a surge in precious metals prices on August 10. Gold futures rose by 0.49% to $4361.80 per troy ounce, while silver futures jumped by 2.81% to $65.11 per troy ounce. Platinum futures also saw an increase of 0.61% to $1770.30.

The NYMEX operates through two divisions: the NYMEX Division, which handles trades in oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions; and the COMEX Division, which focuses on gold, silver, copper, and aluminum.