NYMEX (New York Mercantile Exchange (NYMEX) introduced the COMEX 589 Silver Rule in 2014 to apply certain limits on the fluctuations of silver futures. The primary aim of bringing this rule was to promote cash-futures price convergence and price discovery.At the beginning of the trading day, the COMEX determines the upper and lower fluctuation limit based on the previous day’s price. If the silver price in COMEX touches either of these limits, it results in a triggering event. This results in a two-minute pause in trade in the market for monitoring purposes, which may be followed by a halt in trade for the entire day. The trading will resume the next trading day from the price where it was closed the day before.