The Tokyo Commodity Exchange announced today that November 2013 trading volume averaged 74,712 contracts per day, down 7.2% from October 2013. Average daily volume increased for some key commodities such as Crude Oil; which was up 13.1% to 3,881 contracts; Kerosene, which was up 29.7% to 4,387; and Rubber, which was up 10.2% to 8,116 contracts. However, the most actively traded Gold contract fell 21.9% to 26,553 contracts.
In November, Oil market prices advanced significantly as improved U.S. employment statistics pointed to prospects for an economic recovery. The yen also weakened against the dollar. The Crude oil active contract reached 68,360 yen per kiloliter on November 29, its hightest since September 2008. Enhanced volatility contributed to active trading for petrolium products.
Gold markets were subdued on mixed market sentiment. The prospects for tapering of U.S. monetary easing casused a withdrawal of money, while an expected economic recovery pointed to higher demand for commodities.
Open interest at the end of November for all listed products totaled 319,163 contracts, an increase of 15,624 contracts (5.2%) from the previous month.
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