DGCX Posted Robust Trade Amidst Global Market Uncertainties

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) extended strong trading activity during the month of November this year. This is amidst ongoing global market uncertainties.

According to Exchange press note, the G6 currencies portfolio reported 364% year-to-date growth until November this year, as compared with the previous year. The strongest performance was reported by Australian Dollar Contract, which reported year-to-date volume growth of 4,890%. Also, DGCX’s Silver Futures registered 230% surge in average daily volumes, reaffirming its appeal as a reliable safe haven asset.

ALSO READ:

UAE Ponders Fresh Plan to Boost Gold Sector Expansion

DGCX Completed Fifteen Glorious Years of Operation

In addition, the Rolling FX Futures as well as Indian Rupee Weekly Futures Contracts witnessed robust market participation. Both these products registered highest open interest since their respective launch dates.

Les Male, CEO, DGCX noted that the increased hedging of risks by market participants ahead of the U.S. presidential elections and the final leg of the Brexit negotiations led to increased trading activity, especially in its G6 Currency portfolio. The prtogress of Covid-19 vaccines too contributed to the improved market sentiment. The exchange is excited to further strengthen its value proposition next year and embark on a new three-year strategy, Males added.