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 markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. The word "commodity" came into use in English in the 15th century, from the French "commodité", "amenity, convenience". Going further back, the French word derives from the Latin "commoditas", meaning "suitability, convenience, advantage". The Latin word "commodus" (from which English gets other words including "commodious" and "accommodate") meant variously "appropriate", "proper measure, time, or condition", and "advantage, benefit". In economics, the term "commodity" is used specifically for economic goods or services that have full or