DGCX Gold futures trading volumes increase

DUBAI: Total volumes on the Dubai Gold and Commodities Exchange, DGCX, in March totalled 1.8 million contracts, valued at $45.133 billion. The Average Daily Volume, ADV, throughout the same month registered 81,850 contracts.

As the COVID-19 pandemic causes volatile swings in markets across the globe, investors are making increasing use of Exchange’s derivatives products and services as risk management tools, according to DGCX.

The last month saw DGCX’S flagship Gold Futures product record year-on-year, Y-O-Y, Average Daily Volume, ADV, growth of 649.5 percent, and year-to-date, YTD, volume growth of 742.8 percent compared to the same period last year. The DGCX’S G6 currency portfolio also saw trading spike in March, registering Yo-y volume growth of 390.8 percent, and YTD volume growth of 475.4 percent compared to the same period in 2019. And in another indication of the sustainable growth the Exchange is experiencing in resident interest and liquidity, YTD Average Open Interest (AOI) last month was 380,869 contracts, up from 268,752 during the same period last year.

Commenting on the impact COVID-19 is having on the DGCX and global markets, Les Male, CEO of DGCX, said, “These are truly extraordinary times. The spread of COVID-19 has caused tremors of uncertainty across global markets, in which stocks have plunged into bear market territory in record time. During these periods of heightened concerned, as the largest and most diversified derivatives exchange in the Middle East.