UNITED ARAB EMIRATES August 03 2016 4:34 PM
DUBAI (Scrap Register): Dubai Gold and Commodities Exchange (DGCX) precious metals segment, particularly the Gold products, continued with its high volume growth owing to uncertainty and volatile markets post Brexit.
The Exchange's flagship Gold futures contract traded an average of 2,155 contracts per day in July, registering a substantial Y-O-Y increase of 61%. While Average Daily Volumes (ADV) on Gold Quanto touched 1,389 contracts in July 2016, recording an impressive Y-O-Y growth of 170%. DGCX's gold portfolio locked in a strong performance this year, trading 456,913 contracts, up 99% from the same period last year.
Volumes on the DGCX crossed over 11 million contracts this year, growing 49% from last year. The overall volumes in July 2016 touched 1,674,268 contracts, registering a massive year-on-year(Y-O-Y) increase of 47%, driven largely by elevated trade volumes across precious metals, currencies, equities and hydrocarbon segments. The Exchange also recorded the highest monthly overall Average Open Interest (OI) of 257,249 contracts in July 2016.