.jpg)
The Tokyo Commodity Exchange announced today that average daily volume for June 2016 was 115,305 contracts, up 5.0% month over month. TOCOM’s most active contracts had higher volume; Gold Standard increased 20.1% to 41,588 contracts and Gold Rolling Spot rose 9.5% to 18,869 contracts. This helped overcome decreases in contracts such as Dubai Crude Oil, which was down 16.1% to 20,487 contracts.
Trading volume for the first fiscal quarter of 2016 (April–June) was 6,965,316 contracts (114,186 contracts/day), up 24.6% year-over-year. On a monthly basis, total volume outpaced over the previous year for six consecutive months.
In June, Gold was particularly heavily traded following the Brexit decision. Highly volatile foreign exchange markets and uncertainty over long-term financial conditions prompted movement to safe-heaven assets. TOCOM Dubai Crude Oil continued to trade heavily on concerns of a supply shortages after public security deteriorated in Nigeria. The market stagnated after the Brexit vote, which increased uncertainty over the future of the global economy.
At the end of June, open interest for all products was 407,488 contracts, an increase of 9,407 (2.36%) from the end of May.
Please click here for full details.
