Commodity market oil is traded through NYMEX under trading symbol HO. Purified terephthalic acid (PTA) is traded through ZCE in units of 5 tons with the trading symbol of TA. Ethanol is traded at CBOT in units of 29,000 U.S. gal under trading symbols AC (Open Auction) and ZE (Electronic). Precious metals currently traded on the commodity market include gold, platinum, palladium and silver which are sold by the troy ounce. One of the main exchanges for these precious metals is COMEX. According to the World Gold Council, investments in gold are the primary driver of industry growth. Gold prices are highly
Commodity form theory buyers and sellers. Contract is both logically the central legal premise on which all other aspects of law are based, and also the highest form of expression of the commodity owning subject. This is because it is the relations of contract that are crucial for commodity production society since the contract is the necessary legal expression of commodity owners' ability to use their commodities in the market. For Pashukanis, all other forms of legal relations in capitalism flow from this. The commodity form of exchange historically precedes the legal system which emerges from it. But it is not merely that