Business | Markets
Dubai Gold and Commodities Exchange volumes in July reach all-time high
The Dubai Gold and Commodities Exchange (DGCX) recorded the highest volumes in July, with 186,842 contracts traded reaching in excess of $12 billion, an increase of 227 per cent over last year.
- Staff Report
- Published: 14:55 August 4, 2008
Dubai: The Dubai Gold and Commodities Exchange (DGCX) recorded the highest volumes in July, with 186,842 contracts traded reaching in excess of $12 billion, an increase of 227 per cent over last year.
Total volumes recorded from January to July went up 56 per cent over the previous year. The number of traded contracts for the period reached 821,388 with a value of $ 43.3 billion.
“Interest in derivatives is certainly gaining ground in the region, as evidenced by the growing trade on DGCX,'' said Malcolm Wall Morris, DGCX chief executive officer.
“Growth has also been supported by the recent introduction of Crude Oil futures which has attracted substantial interest from the region and beyond. The addition of Crude Oil to our already strong markets in Precious Metals and Currencies has highlighted our commitment to providing our customers with a broad portfolio of products with which to manage their price risk.'' he added.
Gold volumes also increased by 167 per cent to 109,289 contracts in July, as compared to the corresponding period last year.
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