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 for 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

2 hours ago

[SMM Analysis]Aluminum Billet Inventory Falls to 130,000 mt, Warehouse Withdrawals Rebound, Processing Fees Soften

According to SMM statistics, on July 2, aluminum billet inventory in China's mainstream consumption areas dropped to 130,000 mt, down 4,000 mt from last Monday and 10,000 mt from last Thursday, with the destocking pace accelerating markedly. Compared with the same period, it was 23,500 mt lower than in 2025 and 9,700 mt lower than in 2024, pushing total inventory to the lowest level for the same period in the past three years. In terms of warehouse withdrawals,

2 hours ago

3 hours ago

SHFE Cast Aluminum Alloy Warrants Drop to 25,485 mt on July 3, Down 1,077 mt from Previous Day

[SMM Flash] SHFE data showed that on July 3, the total registered warrants for cast aluminum alloy stood at 25,485 mt, down 1,077 mt from the previous trading day. By region, the breakdown was: Shanghai (2,603 mt, down 299 mt), Guangdong (4,079 mt, down 360 mt), Jiangsu (5,279 mt, down 148 mt), Zhejiang (8,200 mt, down 211 mt), Chongqing (4,539 mt, down 59 mt), and Sichuan (785 mt, down 1,507 mt).

3 hours ago

4 hours ago

Domestic Ports See 280,000 MT Drop in Bauxite Inventory, SMM Reports

【SMM Port Inventory of Imported Bauxite】According to SMM's statistics on July 3, the total bauxite inventory at ten domestic ports decreased by 280,000 mt from the previous week.

4 hours ago