TOCOM: TOCOM October 2019 Market Summary

TOCOM October Daily Volume Averaged 63,132 Contracts, Down 30.0% M-o-M

(Tokyo, November 8, 2019 ）The Tokyo Commodity Exchange announced today that October 2019 average daily volume was 63,132 contracts, down 30.0% from September and down 26.9% from October 2018. Compared to September, TOCOM’s most active contracts had lower volume; Gold Standard was lower by 31.1% to 27,877 contracts, Platinum Standard declined 39.9% to 10,299 contracts and Dubai Crude Oil decreased 25.0% to 9,479 contracts.

TOCOM Gold started the month at 5,100 yen per gram and edged above 5,200 yen. The contract attempted new highs, but came off as US-China trade negotiators reached a preliminary agreement, reducing perceived risks to economic growth. Gold continued to trade steadily with the markets continuing to assess the prospects of a global economic slowdown, along with further central bank monetary easing and political uncertainties surrounding issues like Brexit.

TOCOM Dubai Crude Oil prices rallied above 39,000 yen per kiloliter during the month after earlier declines that saw the price fall below 35,000 yen. This was the first time below this level since December 2018 and was the result over fears of over-supply and a global economic slowdown. Prices recovered as OPEC was expected to make policy adjustments, including additional production cuts, at their general meeting in December. Exchange-wide open interest was 328,257 contracts at month-end, down 14,255 contracts (4.2%) from September 2019.