Precious Metals Prices Plummet on NYMEX

The New York Merchantile Exchange (NYMEX) has reported a decline in precious metals prices. According to NYMEX, gold futures have dropped by 0.81% to $4074.50 per troy ounce, while silver futures are down by 0.32% to $58.47. Platinum futures have also fallen, declining by 2.27% to $1613.60.

The NYMEX was founded in 1882 and operates two divisions: the NYMEX Division, which handles trades of oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions; and the COMEX Division, which focuses on gold, silver, copper, and aluminum.

The measurement unit for these precious metals is 1 troy ounce, equivalent to 31.1 grams.