SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) continued to register strong interest in gold and silver futures contracts during the month of March this year. The exchange registered a monthly Average Open Interest (AOI) of 191,974 contracts.
The precious metals segment emerged as the best performer with its Silver Futures Contract recording YTD volume growth of 209% over the previous year. Also, Shari’ah Compliant Spot Gold Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 151% during the month.
Les Male, CEO, DGCX noted that the exchange recorded sustained interest in Silver Futures Contract during the initial quarter of the year, mainly driven by investors’ appetite to safeguard their risks. There was also a rising interest for products that comply with Islamic principles. DGCX is currently exploring opportunities to expand its metals portfolio with more products that adhere to Islamic principles, for instance, a Shari’ah based Silver Futures Contract, he added.