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Gold January 22, 2021 02:00:48 PM

Dubai Gold & Commodities Exchange Closed 2020 on a Strong Note

Paul Ploumis
ScrapMonster Author
The best performing product was AUD Futures Contract, whose trades totalled over 0.26 million contracts.

Dubai Gold & Commodities Exchange Closed 2020 on a Strong Note

SEATTLE (Scrap Monster): The Dubai Gold & Commodities Exchange (DGCX) ended the year 2020 on a strong note. The exchange recorded several milestone achievements during the previous year.

According to press release by the exchange, it traded 12.73 million contracts during the year. The yearly average open interest (AOI) during the year was 220,504 contracts. The notable high number of outstanding contracts at the end of the trading day suggests the elevated level of investor participation and acceptance to its suite of products.

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The best performing product was AUD Futures Contract, whose trades totalled over 0.26 million contracts. The trade volumes skyrocketed by nearly 4,700% over the previous year, with AOI recording year-on-year jump by 3.8% over the similar period. The products launched during the year, including the weekly INR-USD Futures Contract as well as the three FX Rolling Futures Contracts against the USD, continued to display steady growth, DGCX noted.

Les Male, CEO, DGCX noted that the exchange is proud to have successfully introduced new products, which performed exceptionally well in the marketplace. Furthermore, the exchange was able to build on its partnerships and strengthen its overall capabilities during the year, he added.

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