TOCOM Gold

TOCOM gold futures prices rose slightly last week with the most active forward contract gaining 24 yen per gram. The forward contract closed the holiday shortened week at 4071 yen after reaching a weekly high of 4109 yen during Friday’s trading. TOCOM gold futures prices gained last week as the U.S. dollar spot price of gold rose to a one-month high on news of strong physical demand by China as imports of gold surged according to trade data. The spot price of gold priced in USD also climbed back above its 200 day moving average last week which for some technical analysts is a very important indicator of the direction of price movements. Prices were higher in Tokyo despite the yen strengthening against the U.S. dollar last week. The U.S. Mint also reported strong sales of both gold and silver coins for the first week in January. Some analysts at major banks are bullish on gold prices for 2012 and some are predicting gold will make a run at the $2,000 level. Trading volume on TOCOM was mixed with volume topping the 100,000 mark last Wednesday. Open interest was little changed last week.

TOCOM Gold Daily Chart – Forward Contract (as of Jan 16)

 

TOCOM Gold Forward Contract Weekly Trading Data

Date	Open	High	Low	Close	Change	Volume	Open Interest
Jan 13	4083	4109	4045	4071	-8	87482	123444
Jan 12	4071	4083	4051	4079	18	40685	126729
Jan 11	4003	4061	4001	4061	49	106289	129255
Jan 10	4029	4050	3989	4012	-35	46646	124788

 

TOCOM Platinum

TOCOM platinum futures prices recovered some last week after their steep fall the previous week. The most actively traded forward contract rose by 157 yen per gram or about 4.4%. The forward contract closed the week at 3691 yen per gram after hitting a weekly high of 3744 yen during Friday’s trading. Recent reports that economic activity has been slowing in many places around the globe including Europe and China has weighed on platinum group metal (PGM) prices in recent weeks. Therefore, many analysts are predicting that prices of platinum will stay fairly steady with current prices in the early part of 2012 but some are also predicting that platinum prices will take off later this year. How the sovereign debt crisis plays out in Europe will most likely play a large role in the direction of PGM prices this year. In physical market news, there were reports last week that jewelers in China are well stocked with platinum now before the New Year holiday starts there at the end of January. Trading volume was moderate and open interest fell by around 2,000 contracts to stand at 44,195 as of last Friday.

TOCOM Platinum Daily Chart – Forward Contract (Jan 16)

 

TOCOM Platinum Forward Contract Weekly Trading Data

Date	Open	High	Low	Close	Change	Volume	Open Interest
Jan   13	3735	3744	3646	3691	-36	15007	44195
Jan 12	3681	3734	3663	3727	54	14695	44354
Jan 11	3555	3687	3551	3673	111	21381	45631
Jan 10	3529	3566	3482	3562	28	11659	47259

 

TOCOM Rubber

TOCOM rubber futures prices fared better than precious metals last week as the benchmark forward contract gained 3.3% or 8.9 yen per kilogram. The forward contract closed last Friday’s day trading session at 277.0 yen after hitting a weekly high of 282 yen earlier in Friday’s trading. Prices had fallen the previous week on slowing demand from China and expectations by the market that this year will show a surplus of natural rubber where there was a deficit in 2011. Persistent worries about the sovereign debt issue in Europe affecting demand for rubber and higher rubber stock levels in China which recently hit a 10 month high have both recently cast a pall over the market recently. However, prices moved higher last week inTokyo on news that Thailand had agreed to buy natural rubber at above-market prices to help support farmers and some market sentiment that rubber had been oversold. Adding additional support to prices is the coming of the dry or “wintering” season in the rubber producing areas in SE Asia which will limit production in the coming months. Trading volume was fairly quiet and open interest rose by about 2,000 contracts to stand at 26,999 open contracts as of last Friday.

TOCOM Rubber Daily Chart – Forward Contract (Jan 16)

 

TOCOM Rubber Forward Contract Weekly Trading Data

Date	Open	High	Low	Close	Change	Volume	Open Interest
Jan 13	279.6	282.0	275.8	277.0	-3.2	5568	26999
Jan 12	278.1	280.9	276.3	280.2	3.5	6800	26415
Jan 11	273.0	277.0	271.7	276.7	3.7	8244	26106
Jan 10	268.1	273.0	266.6	273.0	4.9	7523	25431

 

 

Exchange and Industry News

TOCOM Trading Volume and News December 2011

Click on the link below for the TOCOM news release.

http://www.tocom.or.jp/data/geppou/gaikyo201112_e.pdf

 

TGE Monthly Trading Report December 2011

Click on the link below for the TGE news release.

http://www.tge.or.jp/english/whats/news/pdf/gyoumu/E20120105report.pdf

 

Disclaimer:

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