TOCOM Gold
TOCOM gold futures prices slightly rose last week by 13 yen on the April 2011 forward contract. The forward contract closed the week at 3605 yen after hitting a high of 3687 on Wednesday. The U.S. dollar denominated spot price of gold hit a new high on Tuesday in N.Y. and this helped push prices up in Tokyo as well. However, prices in N.Y. retreated after hitting the high and a strengthening yen also helped to push prices lower later in the week in Tokyo. Concern about sovereign debt problems in Europe pushed global gold prices higher early in the week but positive data on Chinese exports later in the week convinced some traders that the global economic growth trajectory is still on track and so gold prices retreated as money was shifted into equities and other markets as some risk appetite returned to markets. The SPDR gold trust’s holdings, the world’s largest gold backed ETF, reportedly hit another high Thursday of 1,306.137 tons. As summer traditionally sees demand forgold jewelry decrease, some analysts think that gold prices could slip in the short-term but expect the uptrend to remain intact as investors continue to see gold as a safe haven investment. Volume on TOCOM was light and open interest was little changed last week.
TOCOM Gold Daily Chart – Forward Contract (as of June 11)
TOCOM Gold Forward Contract Weekly Trading Data
| Date | Open | High | Low | Close | Change | Volume | Open Interest |
| June 11 | 3597 | 3608 | 3581 | 3605 | 3 | 38231 | 110870 |
| June 10 | 3633 | 3648 | 3601 | 3602 | -46 | 38165 | 109456 |
| June 9 | 3680 | 3687 | 3641 | 3648 | -15 | 41249 | 110384 |
| June 8 | 3586 | 3664 | 3580 | 3663 | 87 | 44698 | 108355 |
| June 7 | 3604 | 3608 | 3557 | 3576 | -16 | 54421 | 110808 |
TOCOM Platinum
Platinum futures prices on TOCOM on the forward April 2011 contract slipped 54 yen or about 1.2% last week after plunging over 200 yen on Monday as investors worried that sovereign debt levels in Europe would hinder global economic growth. However, positive export data out of China and an upbeat report from U.S. Federal Reserve chairman Ben Bernanke helped platinum prices in N.Y. and Tokyo to recover some of Monday’s heavy losses. There does not appear to be any clear consensus in the market on the direction of platinum prices and traders will be carefully watching automobile sales figures in Asia and global industrial output numbers for guidance. Volume on TOCOM was heavy on Monday but slowed down considerably for the rest of the week and open interest was little changed.
TOCOM Platinum Daily Chart – Forward Contract (as of June 11)
TOCOM Platinum Forward Contract Weekly Trading Data
| Date | Open | High | Low | Close | Change | Volume | Open Interest |
| June 11 | 4485 | 4599 | 4480 | 4562 | 62 | 13623 | 53387 |
| June 10 | 4508 | 4556 | 4493 | 4500 | -5 | 14208 | 52846 |
| June 9 | 4528 | 4538 | 4462 | 4505 | -25 | 13866 | 52206 |
| June 8 | 4414 | 4530 | 4402 | 4530 | 117 | 15249 | 52341 |
| June 7 | 4623 | 4652 | 4394 | 4413 | -203 | 25385 | 52083 |
TOCOM Rubber
TOCOM rubber futures prices slid 3.5% or 9.5 yen last week on the November 2010 benchmark contract. Volume was muted and open interest was little changed. Prices plunged on Monday on the back of lower oil prices, concerns on global economic growth and a stronger yen. However, prices recovered somewhat later in the week to erase some of Monday’s heavy losses. Some traders also said that an increasing supply of natural rubber in Thailand have also pressured rubber prices. Rubber stock levels in TOCOM designated warehouses decreased again. Stock levels decreased by 287 tons from May 20th to May 31st to stand at 2,609 tons. Prices on TOCOM hit a weekly low of 253.6 yen on Wednesday before closing the week at 264.1 yen.
TOCOM Rubber Daily Chart – Forward Contract (as of June 11)
TOCOM Rubber Forward Contract Weekly Trading Data
| Date | Open | High | Low | Close | Change | Volume | Open Interest |
| June 11 | 262.0 | 269.3 | 260.8 | 264.1 | 0.7 | 7571 | 27723 |
| June 10 | 261.0 | 265.3 | 258.1 | 263.4 | 3.1 | 8919 | 27401 |
| June 9 | 263.0 | 264.2 | 253.6 | 260.3 | -2.2 | 15018 | 27592 |
| June 8 | 258.0 | 262.7 | 255.8 | 262.5 | 5.1 | 9236 | 27891 |
| June 7 | 274.0 | 276.1 | 256.0 | 257.4 | -16.2 | 12500 | 27932 |
Exchange and Industry News,
No news this week.
Disclaimer: This market review and news report contains information and data from sources believed to be reliable and accurate as of the date of publication but has not been independently verified. This report is for informational purposes only and no employee, director or connected person to Dot Commodity, Inc. takes any responsibility for the information or correctness of the content contained in the report. Dot Commodity, Inc. is strictly an online commodity futures broker and does not give any trading recommendations or financial advice to any of its clients, perspective clients or readers of this report. No part of this market review & news report is to be construed as an offer or solicitation to buy or sell any commodity futures or financial contract or product of any kind.
