TOKYO (Commodity Online): Japan-based commodity bourse, Tokyo Commodity Exchange (TOCOM) has seen its average trading volumes falling by over 15% in August against the previous month.

In a statement issued on Thursday, the exchange informed that exchange’s trading volumes for the month of August 2010 averaged at 82,414 contracts per day, down by 15.4% from July 2010.

‘The volumes in Gold standard, which is the Exchange’s most traded commodity, decreased by 27.1% from the previous month to 32,460 contracts per day and that of gold mini decreased by 28.6% to 5,705 contracts per day,’ the exchange statement said.

“This slump is considered to have been triggered by low volatility of the yen-denominated gold price and pull-back on trading due to summer vacation season in the market,” said the statement.

At the end of August 2010, open interest in all listed commodities totaled 311,275 contracts, an 4.66% increase of 13,870 contracts from the end of the previous month.

However, as per the data provided by the exchange, exchange’s silver contract witnessed its daily volumes rising the most, 133% from 522 contracts in August against 392 recorded in the month of July this year. Meanwhile, on year-on-year basis, the daily volumes rose by 220% for silver in August.

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