【Dot Commodity Weekly Market Review March 19-23】先物取引・商品先物取引ならドットコモディティ

海外マーケットの市況情報Weekly Market Review|2012/3/26/ 16:46投稿

Dot Commodity Weekly Market Review March 19-23


TOCOM Gold

Last week prices of TOCOM gold futures fell slightly as the most heavily traded forward contract fell by 35 yen per gram and closed Friday’s day trading session at 4395 yen. The forward contract fell on every trading day during the holiday shortened week. The main reason for gold prices falling last week was the strengthening of the yen versus the U.S. dollar. The U.S. dollar priced gold spot rate was little changed overall for the week so the stronger yen led gold futures prices lower in Tokyo. Overall market sentiment for gold seems to becoming slightly more positive as some analysts and traders think that Europe will have to do more quantitative easing to strengthen balance sheets in Europe and lower than expected housing starts which were announced at the end of the week in the U.S. could lead the U.S. Federal Reserve Bank to further loosen monetary policy. The end of the five day closing of jewelry stores in India as a protest over a gold import duty increase along with stubborn higher oil prices also helped boost market sentiment late in the week. One worry on the minds of some is the recent uptick of interest rates in the U.S. If this were to continue it could boost the dollar and pressure commodity prices. TOCOM trading volume was quite light last week and open interest was little changed.

TOCOM Gold Daily Chart – Forward Contract (as of Mar 23)

 

TOCOM Gold Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Mar 23

4420

4422

4347

4395

-39

69274

126377

Mar 22

4453

4489

4420

4434

-20

51166

126293

Mar 21

4445

4481

4430

4454

-15

39375

126221

Mar 19

4466

4482

4432

4469

-5

38728

126759

 

TOCOM Platinum

After platinum prices rose above gold prices the week before last after an abnormally long run of being cheaper than gold, gold futures prices in Tokyo and the U.S. dollar gold spot price retook the lead over platinum as platinum prices fell more than 4% on TOCOM. There are concerns in the market that a slowdown in Chinese economic activity will reduce demand for PGMs (platinum group metals). The stronger yen against many major currencies also helped to send prices lower  along with a lower U.S. dollar spot price. The most actively traded forward contract on TOCOM closed Friday’s day trading session at 4369 yen per gram after falling 200 yen for the week or about 4.4% after earlier falling to the weekly low of 4295 yen in Friday’s trading. In physical market news, South Africa based Implats reportedly reached an agreement with the Zimbabwean government to hand over 51% of the company to abide by recently passed laws there requiring local ownership. In India, there have been recent reports that young Indian women are starting to choose more and more platinum jewelry instead of the traditionally popular gold based jewelry. TOCOM platinum futures trading volume was fairly quiet last week and open interest rose slightly and stood at 44,775 open contracts as of last Friday.

TOCOM Platinum Daily Chart – Forward Contract (Mar 23)

 

TOCOM Platinum Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Mar   23

4387

4387

4295

4369

-35

16358

44775

Mar 22

4473

4501

4392

4404

-74

18239

44044

Mar 21

4516

4544

4461

4478

-44

14033

43568

Mar 19

4560

4574

4513

4522

-47

12547

43747

 

TOCOM Rubber

TOCOM rubber futures were little changed last week with much lower volatility than usual. The benchmark forward contract fell by 1.7 yen per kilogram and closed Friday’s day trading session at 330.7 after reaching the weekly low 0f 327.6 yen earlier Friday. Like base metal markets, sentiment in rubber markets were subdued due to continuing data coming out of China pointing to slower economic growth there which would damper demand for many commodities including rubber. It was reported that Australian miners of iron ore said that demand for the ore from China was slowing down. In physical news, there have been recent reports of ample inventory of natural rubber in China which has dampened the amount of fresh demand coming into markets. Even though Thailand is in its seasonal dry season, where rubber tree output drops by as much as 50%, prices are not increasing much due to the dearth of fresh buying. Lastly, Indonesian car sales reportedly leapt by more than 24% in February compared with the previous year’s figures. Trading volume was light and open interest was little changed.

TOCOM Rubber Daily Chart – Forward Contract (Mar 23)

 

TOCOM Rubber Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Mar 23

330.8

332.0

327.6

330.7

-1.3

6538

22959

Mar 22

332.9

334.8

329.6

332.0

-0.4

6313

22487

Mar 21

332.9

333.3

328.2

332.4

-0.8

5553

23240

Mar 19

333.0

335.8

331.3

333.2

0.8

4834

23262

 

Exchange and Industry News

TOCOM Gold Market Marks 30th Anniversary

http://www.tocom.or.jp/news/2012/20120323Gold30.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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