The Tokyo Commodity Exchange (TOCOM) announced its trading overview of July 2016. In July, Gold continued to trade heavily after Brexit prompted safe-haven buying and was further supported after the FRB’s decision to hold interest rates steady. Platinum prices rose significantly on strong global automobile sales and trade expanded.
The total monthly trading volume was 2,443,263 contracts with the average daily volume of 122,163 contracts, up by 5.9% month-over-month and 11.4% year-over-year.
The most traded contract, Gold Standard increased by 13.5% MoM to 47,217 contracts. While the second most traded contract, Dubai Crude Oil decreased by 2.5%, the forth most popular contract, Platinum Standard rose by 25.1% to 14,159 contracts, which outweighed decreases in a few contracts such as Dubal Crude Oil and Gold Rolling Spot.
As TOCOM Dubai Crude Oil prices were bearish through the month on uncertainty about future growth, traders assumed a wait-and-see attitude toward trading.
Gold Physical Transaction which has just launched on July 25 got off to a promising start with 26 lots for 100 grams executed for the first five trading days.
At the end of July, open interest for all products was 400,636 contracts, declined by 6,852 (2.36%) from the end of June.
Trading Volume Breakdown
(Source: Tokyo Commodity Exchange (TOCOM) )
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- 2016/07/11 TOCOM released Gold Standard contract grew by 20% in June
- 2016/06/27 Brexit Impact, Tokyo Commodity Exchange hit the new high of Gold Rolling Spot futures trading volume
- 2016/06/10 Tokyo Commodity Exchange and Thailand Futures Exchange Sign MoU to establish a cooperative relationship