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The Tokyo Commodity Exchange announced today that September 2013 trading volume averaged 94,011 contracts per day, down 1.9% from August 2013. Average daily volume was higher for some key commodities such as Gold, which was up 0.9% to 43,714 contracts, and Crude Oil, which was up 7.3% to 4,259 contracts. Other commodities, such as Gasoline saw volume decrease by 10.6% to 7,409 contracts and Rubber was down 7.5% to 8,316 contracts.
Commodity markets were subdued throughout September due to holidays in the United States and Asia as well as clouded prospects for the U.S. economy. Gold prices advanced sharply following FOMC announcement in the early hours of September 19 (Japan Time) effectively postponing the tapering of QE3.
Otherwise the gold market remained weak in September. Crude oil markets went sideways through uncertainty in Syria in the first half of the month. Later, the market turned bearish on the perception of reduced risk in Syria and the U.S. debt-ceiling crisis.
Open interest at the end of September for all listed products totaled 293,929 contracts, a decrease of 6,342 contracts (2.1%) from the previous month.
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