Troy Ounce Definition History and Conversion Table

Troy Ounce: Definition, History, and Conversion Table Definition The troy ounce is equal to approximately 31.1035 grams or 1.09714 avoirdupois ounces. It is used primarily in the trading and pricing of precious metals, as well as in the production of coins, bars, and other forms of bullion. The troy ounce …

New York Mercantile Exchange NYMEX Meaning Overview FAQ

New York Mercantile Exchange NYMEX The New York Mercantile Exchange (NYMEX) is a leading commodities futures exchange. It is a subsidiary of the CME Group and operates as a designated contract market for trading futures and options contracts on a wide range of commodities. Founded in 1872, NYMEX has a …