SEATTLE (Scrap Monster): The Dubai Gold & Commodities Exchange (DGCX) announced that it recorded robust trading activity during the month of May this year, primarily led by precious metals portfolio and G6 currencies contracts. The exchange registered a monthly Average Open Interest (AOI) of 116,929 contracts for the month, said the press release.
The exchange’s Gold Futures Contract and its Shari’ah Spot Gold Contract registered strong Year-To-Date (YTD) volume growths of 200% and 359% respectively, compared with the previous year. Also, G6 Currencies Portfolio recorded combined trade of 28,963 lots valued at USD 1,460 million. The strongest performances were witnessed in Euro and Pound Future Contracts, whose Average Daily Volume (ADV) surged higher by 123% and 1125% respectively.
The Indian Rupee Options Contract traded a total of 23,205 lots, valued at $2.5 million, until May this year.
The market participants displayed preference towards safe-haven assets as well as G6 Currencies portfolio during the month of May, amidst continued inflation and market headwinds, said Les Male, CEO, DGCX. The exchange looks forward to introduce new products next month, he added.
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