The Tokyo Commodity Exchange announced today that average daily volume for futures in January 2017 was 107,394 contracts, up 7.4% month-over-month. Volume increased for TOCOM’s largest contracts, including Gold Standard, which was up 10.4% to 27,061 contracts, Gold Rolling Spot, which was up 20.2% to 15,802 and Platinum Standard increased by 27.0% to 15,467 contracts. In addtion, Gold Option (calls) rose a significant 304.5% to 273 contracts.
In January, Gold traded heavily as a safe-haven asset as anxiety built up about U.S. economic policy. On January 23, Gold hit a six-month high of 4,443 JPY per gram. The Platinum market was active as well on expected demand from the auto industry in the U.S. and China. Prices advanced to 3,653 JPY per gram on January 25, a five-month high. Rubber prices rose to 366.7 JPY per kilogram on January 31, the highest in over 5 years. The increase was due to the potential impact of flooding in Thailand, the major producer of rubber.
Month-end open interest for all products decreased 76,032 contracts (-14.8%), to 463,990, from the end of December 2016.
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