DGCX Contracts Witnessed Notable Momentum in July

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) reported continued momentum in its contracts during the month of July this year. The surge was mainly led by PKR Futures Contracts and Weekly INR Contracts.

The exchange recorded monthly Average Open Interest (AOI) of 181,879 contracts. The Weekly INR-US Dollar (USD) Futures Contract, recorded a year-to-date volume growth of 86% during the month. This is upon comparison with the same period a year before. The Pakistani Rupee (PKR) Futures Contract too continued to surge. A total of 4,583 contracts worth $60.23 million were traded in July 2021.

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The Silver Futures Contract too continued its strong performance. It recorded year-to-date volume growth of 83% over the previous year. The Gold Futures Contract traded a total of 34,985 lots worth $2.02 billion till date since the beginning of the current year.

Les Male, CEO, DGCX noted that the Weekly INR Futures Contract has proved beneficial for market participants to meet their business and hedging requirements. The exchange’s PKR Futures Contract recorded the highest trade since its launch in April this year. DGCX remains focussed on providing its members with a wide range of innovative products to manage risk effectively and expects to announce new solutions in the forthcoming months, Male noted.