DGCX Gold Futures Contract Volumes Spiked in June

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) traded a total value of $11.623 billion during the month of June this year.

The robust performance was partly driven by Gold Futures Contract volumes, which recorded year-to-date growth of 194%. The average daily volumes (ADV) of the contracts surged higher by 168%, compared with the same month a year before. The exchange’s G6 currencies portfolio too continued to register strong performance for the second month in a row. On a year-to-date basis, the portfolio accounted for trade of as many as 111,658 lots.

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The Indian single stock futures (SSF) recorded year-on-year growth by 532% in June this year. The demand for Indian Rupee-backed assets remained robust, with Rupee Mini Volume Contract registering year-on-year ADV growth of 26%.

The month marked the listing of Israeli Shekel Futures Contract by the exchange, subsequent to receipt of permit from the Israel Securities Authority (ISA) in 2021. This has allowed Israeli members to act as market makers on the DGCX platform.

Ahmed Bin Sulayem, Chairman and CEO of DGCX, said that the exchange expects to see continued demand growth for safe-haven assets over the coming months, especially in the midst of growing inflation, interest rate rises and fiscal tightening. The focus will continue on diversifying its product offering and granting more access to market participants, he added.