.jpg)
The Tokyo Commodity Exchange announced today that November 2017 average daily volume was 94,032 contracts, up 5.5% from October. Volume increased for TOCOM’s most active contracts, such as Gold Standard, which was up 6.2% to 24,479 contracts and Gold Rolling Spot, which was up 2.6% to 13,991 contracts. The Platinum Standard contract was up 8.2% to 9,687 contracts and Dubai Crude Oil rose 8.5% to 21,087 contracts.
November saw Gold prices advance in response to the unclear outlook of the U.S. tax reform as well as geopolitical risk in the Middle East heightened by Saudi Arabia’s political unrest and confrontation with Iran. Prices fell on expectations for higher interest rate and the strengthened U.S. dollar. Prices remained in a range between 4,590 and 4,680 yen/gram through the month.
TOCOM Dubai Crude Oil prices advanced on expectations for extended production cut at OPEC and the geopolitical risk in the Middle East, which lead to the back contract month hitting 43,430 yen/kiloliter on November8, its highest level since July 24, 2015. The contract gave up some gains after IEA’s forecasted decline in energy demand and stabilized on mixed news such as EIA’s report of lower crude inventory. The prices changed between 39,990 and 43,430 yen/kiloliter through the month.
Exchange-wide open interest was 564,369 contracts at month-end, down 14,707 contracts (-2.54%) from October.
Click here for full details.
