[Dow Jones] Tocom RSS rubber futures settle at one-month high, tracking Shanghai rubber futures; buyers set up long positions, sellers covered. Shanghai rubber futures up more than more than 4% after weeklong holiday closure. Higher crude, gold, stock markets provide support for Tocom rubber, traders say. U.S. Fed”s decision to raise discount rate being seen in positive light, contrasting with earlier concerns about monetary tightening, making for optimism across asset classes. Nymex light, sweet crude for March delivery trading 20 cents higher at $80.01/bbl on Globex after 1% overnight rise. Spot gold trading $7.30 higher at $1124.40/oz. More upside expected for Tocom rubber after close above key Y300 support, traders say. Analyst puts technical resistance at Y306. Benchmark Tocom July contract settles Y7.9 higher at Y302.5/kg, near intraday high of Y302.7/kg. (HLN)

Source: Dow Jones

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