DGCX Volumes Rising

Dubai Gold and Commodities Exchange saw volumes increasing 95 per cent year-on -year in January.

Dubai Gold and Commodities Exchange (DGCX) announced that volumes rose 95 per cent in January 2012 from the same month last year to hit 475,942 contracts, valued at $19.32 billion. The average daily volume in January was 21,634 contracts, up 86 per cent from the same period a year ago.

The majority of the volumes came from currency futures, which aggregated 442,345 contracts, rising 124 per cent from last year. Indian Rupee futures saw the highest growth in trading, increasing 157 per cent from January 2010. Other currencies futures that performed well were Sterling/Dollar, Dollar/Yen and US Dollar/Canadian Dollar.

Gold futures rose 355.7 per cent from December 2011, hitting 30,567 contracts.

“With volatility in currency and commodity markets continuing to be a feature of today’s uncertain economic environment, DGCX products will be extremely valuable tools for market participants seeking to manage currency and commodity price risk,” said Stephen Gaterell, CEO of DGCX.