【Dot Commodity News & Market Review Dec 5-9】商品先物取引のドットコモディティ

海外マーケットの市況情報Weekly Market Review|2011/12/12/ 16:16投稿

Dot Commodity News & Market Review Dec 5-9


TOCOM Gold

Prices of TOCOM gold futures fell last week by around 2.0% on some technical selling, a slightly stronger yen versus the dollar and a weaker U.S. dollar spot price. The most actively traded forward contract fell by 101 yen per gram or roughly 2.3% last week and closed the day trading session last Friday at 4271 yen per gram. Trading volume on TOCOM last week was moderate to moderately low and open interest fell by around 9,000 to stand at 129,246 open contracts as of Friday. Early last week, the USD spot price of gold broke  below its 100 day moving average which pressured prices in Tokyo last Tuesday as the forward contract fell by 87 yen per gram. Then, prices fell again last Friday as trader were disappointed that the European Central Bank did not decide to do more to try and fix the sovereign debt problems in Europe last Thursday. Gold prices continue to trade closely with equity markets and last week saw this recent trend continue. The price correlation between gold and the S&P 500 reportedly hit a one year high last week as gold has lost some of its safe haven status over the past few months after hitting new highs in September. Some traders are looking at the next support level at around $1615 for the USD spot price.

TOCOM Gold Daily Chart – Forward Contract (as of Dec 9)

 

TOCOM Gold Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Dec 9

4342

4365

4253

4271

-75

60020

129246

Dec 8

4332

4354

4306

4346

18

39536

132056

Dec 7

4293

4335

4265

4328

34

42347

132132

Dec 6

4379

4380

4275

4294

-87

72816

135610

Dec 5

4372

4422

4367

4381

9

53649

139155

 

TOCOM Platinum

Prices of TOCOM platinum futures plummeted last week as the most actively traded forward contract fell on 4 out 5 trading days last week. The forward contract closed the week down by around 4.9% or 191 yen per gram. The U.S. dollar denominated spot price of platinum fell slightly last week. Prices plunged in Tokyo last week due to lower than expected economic data numbers in Japan and worries that slowing growth in China and fiscal problems in Europe will dampen demand for platinum. Recent strong demand for platinum has come from buyers of jewelry in China and for diesel engine production in Europe and some market participants are worried that this demand could fall in 2012. Also pressuring the market is the expectation that platinum supply will outstrip demand again in 2012. Overall, recent market sentiment has turned somewhat neutral if not a bit bearish but there are some analysts and traders who look at the spread between gold and platinum prices and see opportunity. Except for rare and short occasions, prices of platinum have been higher than gold prices.
Trading volume of TOCOM platinum futures was moderately low last week and open interest rose ever so slightly to stand at 46,865 open contracts as of last Friday.

TOCOM Platinum Daily Chart – Forward Contract (as of Dec 9)

 

TOCOM Platinum Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Dec 9

3801

3830

3731

3732

-67

13780

46865

Dec 8

3845

3855

3791

3799

-47

9971

46615

Dec 7

3798

3858

3766

3846

52

10034

46138

Dec 6

3900

3903

3782

3794

-99

14428

46643

Dec 5

3926

3953

3884

3893

-30

9584

46066

 

TOCOM Rubber

TOCOM rubber futures prices were little changed last week as prices rose for most of the week until prices gave up most of those gains on Friday as prices plunged. The benchmark forward contract fell by only 0.2 yen per kilo and closed the day session Friday at 280.8 yen. The forward contract plunged by 10.1 yen on Friday to give up all the previous gains for the week after the European Central Bank disappointed markets with less than hoped for action to combat the sovereign debt crisis there. This perceived lack of  strong action by the ECB helped to push equity and commodity prices lower in  Europe and the U.S. last Thursday which in turn pushed prices lower in Tokyo on Friday. Recently, prices of natural rubber have  been on the weak side due to slowing economic growth prospects in China and Europe with additional worries coming out of India. However, some traders and analysts expect prices in Tokyo to  challenge the 300 yen level late this year or early next year due to supply constraints because of the rainy season in SE Asia producing countries and the action taken by the Asean Rubber Business Council who said that they will take stronger action  against any company who defaults on rubber shipments. TOCOM trading volume was moderately low and open interest was little changed.

TOCOM Rubber Daily Chart – Forward Contract (as of Dec 9)

 

TOCOM Rubber Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Dec 9

290.5

291.2

280.6

280.8

-10.1

8919

22406

Dec 8

291.9

294.0

288.2

290.9

-1.0

7265

23012

Dec 7

283.5

291.9

283.5

291.9

7.1

8616

21824

Dec 6

284.3

284.8

280.2

284.8

1.3

4040

21152

Dec 5

281.0

286.4

280.0

283.5

2.9

4415

21208

 

Exchange and Industry News

Summary of November 2011 Activities at TOCOM

Click on the link for the summary.

http://www.tocom.or.jp/data/geppou/gaikyo201111_e.pdf

 

TOCOM End of Year/New Year Business Schedule

Click on the link for the detailed schedule.

http://www.tocom.or.jp/news/2011/20111207BusinessSchedule.html

 

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.


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