Tokyo Futures Rebound On Oil, Gold Prices

Key TOCOM rubber futures rebounded after three consecutive days of losses on Thursday (Apr 28) on higher gold and oil prices following signs that the U.S. may continue its easy monetary policy, but investors were cautious of active buying ahead of a long weekend.
FUNDAMENTALS
The key Tokyo Commodity Exchange rubber contract for October delivery was up 1.3 percent, or 4.9 yen, at 383.5 yen per kg as of 0020GMT.
The most active rubber contract on the Shanghai Commodity Exchange for September delivery slid 2.2 percent, or 740 yuan, to close at 32,160 yuan per tonne. Volume stood at 948,158 lots.
U.S. crude futures rose to $113.70 a barrel in early trade on Thursday (Apr 28), to their highest in 2-1/2 years as the dollar remained under pressure after a meeting of the Federal Reserve.
The dollar index fell to a fresh three-year low on Thursday (Apr 28) as Fed Chairman Ben Bernanke did nothing to change the prevailing perception that the U.S. central bank is in no hurry to raise rates.
Gold climbed to a record high of almost $1,530 an ounce on Wednesday (Apr 27) and silver jumped 6 percent.
(Reuters, April 28, 2011)