DGCX quarterly volumes see big jump in Q1 2015

Published: Apr 15, 2015 09:00

Save

The Dubai Gold and Commodities Exchange (DGCX) reported big jump in trade volumes during the first quarter of 2015.

Author: Paul Ploumis14 Apr 2015 Last updated at 08:21:14 GMT

ABU DHABI (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) reported big jump in trade volumes during the first quarter of 2015. The quarterly volumes were up 11% when compared with the previous quarter and 8% up from Q1 2014. The total number of traded contracts crossed 3.3 million, valued nearly $97 billion.

In March, DGCX recorded the highest average Open Interest (OI) of nearly 60,000 contracts. The OI during the first quarter touched all-time highs. March 2015 volumes grew by 32%. March trading volumes recorded significant growth of 32% from the previous month. The traded volumes totaled 1,222,360 contracts, valued at $36 billion. The Indian Rupee Futures Contract recorded the highest ever volume since August 2013, totaling over 1 million contracts valued at $32 billion. Gold Futures reported robust 14% month-on-month growth, trading 33,080 contracts during the month. The average daily volume during the month rose 26% from the previous month to 55,562 contracts.

The surge in volume growth was primarily aided by Indian Currency and Equity products and WTI futures. The Indian Rupee and Sensex Futures volumes surged by 11% and 20% respectively. Meanwhile, WTI Futures grew 54% during the first quarter of the year.

According to Gaurang Desai, Interim CEO, the strong performance during the first quarter of the year is likely to drive the growth during remaining quarters of the year. The exchange plans to diversify its product portfolio by launching new products and increasing the participant base. The launch date of its spot gold contract is expected to be announced within two weeks. The talks with a local bank are in advanced stage. The Exchange had initially scheduled to launch the contract last June, but was delayed due to technical reasons.

DGCX gold

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

38 mins ago

Data: SHFE, DCE market movement (May 22)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 22 May , 2026

38 mins ago

2 hours ago

Aluminum Billet Inventory Dropped Another 28,500 mt Within the Week, Processing Fees Showed a "South Strong, East Weak" Pattern [SMM Aluminum Billet Weekly Review]

According to SMM statistics, on May 21, aluminum billet inventory across China's major consumption regions totaled 205,500 mt, down 28,500 mt WoW (Thursday), with inventory destocking accelerating. Warehouse withdrawals side, during 5.12-5.18, total aluminum billet warehouse withdrawals reached 55,700 mt, an increase of 14,200 mt from the previous week.

2 hours ago

Aluminum Alloy 2607 Up 0.30%, ADC12 Prices Steady Amid Cost and Demand Tug-of-War

[SMM Aluminum Alloy Daily Review] Futures side, the most-traded aluminum alloy 2607 contract opened at 23,080 yuan/mt today, reaching a high of 23,190 yuan/mt and a low of 23,075 yuan/mt during the session, and closed at 23,130 yuan/mt at midday, up 70 yuan/mt or 0.30% from the previous settlement price. Spot side, the ADC12 market overall continued a stable-price wait-and-see pattern today, with the SMM ADC12 price holding steady from the previous day at 23,700 yuan/mt. Overall, the market remained in a tug-of-war between "high cost support" and "weak demand suppression," and ADC12 prices were expected to continue moving sideways in the short term.

2 hours ago