Nymex records record gold trade

The New York Mercantile Exchange (Nymex) has announced that a daily volume record was set yesterday (November 28th) for gold trading.

The stock exchange for gold said that record volumes of trade were registered for overall gold futures its gold contract on the CME Globex electronic trading platform and total metals futures for Comex, reflecting the resurgence of gold right to the top of the market agenda.

A key figure was attained for total metals futures contracts for Comex, with as many as 362,576 registered, a quantity exceeding the 350,921 contracts traded only two days earlier, on November 26th.

Gold futures looked to be leading the way as activity increased for metals, with Nymex declaring: "Gold futures on Globex reached a record 244,144 contracts, surpassing the 210,413 contracts traded on November 7th".

Recent weeks have seen trading go up and down for gold, with US public holidays leading to a drop-off in trade, but investors returning with a vengeance on other days – such as yesterday's record Nymex day.

Gold prices have given many an incentive to buy gold in recent months, with prices soaring as high as $845 per ounce only weeks ago, before dropping down toward the $800 mark.