DGCX posts 67% growth in volume

dubai — Dubai Gold and Commodities Exchange (DGCX) continued its record-breaking start to the year while delivering its best month since inception. Last month, the exchange traded its highest monthly volume of 2,097,739 contracts, valued at $47.03 billion, recording 67 per cent year-on-year (year-on-year) growth.

The exchange has thus far recorded 53per cent year-to-date growth from 2017. The spikes witnessed in DGCX’s trading volumes are a clear sign of investors’ increased appetite for protection amidst market volatility. The exchange’s best performing product segments for the month were currencies and precious metals.

Trading volumes in the Indian Rupee and G6 currencies witnessed remarkable growth in February. The Indian Rupee recorded Y-o-Y growth of 38 per cent, with over 56,328 lots valued at $1.74 billion trading per day. The pound sterling futures contract recorded 72per cent growth year-on-year, whilst the Australian dollar recorded monthon-month growth of 150per cent. The star performer was the euro, with volume growing by 207 per cent year-to-date, registering a total traded volume of 80,544 contracts thus far this year.

From the Precious Metals suite, DGCX’s Gold Quanto Futures recorded its highest monthly average volume of 1,714 contracts, with Y-o-Y growth of 120per cent from last February. Whilst Shanghai Gold set various volume and traded value records throughout the month.

— business@khaleejtimes.com