DGCX Gold Futures Rocketed 650% in March

SEATTLE (Scrap Monster):  The Dubai Gold and Commodities Exchange (DGCX) has reported significant surge in use of its derivative products and services during the month of March this year.

The Exchange’s flagship Gold Futures product recorded year-on-year growth of 649.5% in average daily volume (ADV) during the month. The volume growth recorded 742.8% surge during the initial three-month period of the year. The G6 currency portfolio too saw notable surge in monthly trading volume, rising sharply by almost 391% over the previous year. The year-to-date volumes saw 475.4% spike when compared with the corresponding three-month period in 2019. The average open interest (AOI) in Jan-Mar ’20 was up by 268, 752 contracts from the previous year to total 380,869 contracts.

The Exchange traded 1.8 million contracts in March this year, which were valued at $45.133 billion.

Commenting on the impact of COVID-19 on the Exchange, Les Male, CEO said that it is committed to provide its traders and members with wide range of products to effectively manage their risks, especially during these times of heightened concerns. DGCX remains committed to providing its services as usual, he added.

YOU MAY ALSO BE INTERESTED IN:

DGCX Gold Futures Registered Best Ever Trading Month Since July 2008

DGCX Gold Futures Extended Robust Start to the New Year