In the face of new competition in precious metals futures, New York Mercantile Exchange (Nymex), posted volume records for gold futures and took a small step toward increased electronic trading of its metals complex.
Nymex reported last week it handled 1,780,714 gold futures contracts in November, topping the previous high of 1,649,521 contracts in March 2004. Nymex also reported a daily volume record of 210,108 contracts last Monday, surpassing the prior record of 187,427 contracts on 28 September 1999.
The record volumes come in the wake of...