DGCX Gold Futures Continued Buoyant Trading

SEATTLE (Scrap Monster):  The Dubai Gold and Commodities Exchange (DGCX) reported robust trading activity during the month of April this year. The Gold Futures trading reported notable volume growth in the year-to-date period.

According to DGCX press release, the exchange recorded notable surge in trading volumes of its G6 currency portfolio, with year-to-date volumes surging higher by 653.45%. The sudden surge was mainly on account of ongoing market volatility and global economic uncertainty, coupled with shifting views on the dollar as a safe haven. Among the G6 currency pairs, Euro Futures and British Pound Futures recorded volume growth of 405.56% and 318.48% respectively.

Meantime, the Gold Futures product continued its strong performance, recording year-to-date volume growth of 547.31%, in comparison with the same period a year before. The exchange’s flagship product had recorded around 650% growth in average daily volume (ADV) in March this year.

The DGCX volumes totalled 810,000 million contracts in April this year. The monthly contracts were valued at USD 20.02 billion. The year-to-date Average Open Interest (AOI) totalled 347,955 contracts, significantly higher by nearly 20% from the previous year.

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Les Male, CEO, DGCX commented that the exchange has allowed investors and businesses to protect their positions against extreme volatility and price fluctuations. It is committed to provide risk management and price discovery functions in the midst of prevailing challenging environment, he added.