DGCX Trade Volumes Spurted Despite Intense Market Volatility

SEATTLE (Scrap Monster): The traded value by the Dubai Gold & Commodities Exchange (DGCX) totalled $13.681 billion in the month of February this year, amidst heightened inflation due to oil price surge and Russia-Ukraine crisis.

The exchange recorded a monthly Average Open Interest (AOI) of 125,206 contracts during the month, primarily led by precious metals portfolio. The Gold Futures Contract registered year-on-year Average Daily Volume (ADV) growth of 734%, whereas the Silver Futures recorded growth by 75%.

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The trading of Indian Rupee Mini Futures Contract saw significant surge by 67%, whereas Rupee Options Contract witnessed sharp spike by 206%. Meantime, Rupee Weekly Contracts registered 87% surge in traded volumes. Also, increased volatility in oil markets resulted in increased traction in West Texas Intermediary (WTI) Futures, registering tear-on-year ADV growth of 136%.

Les Male, CEO, DGCX noted that volatility has been a recurring theme over the past few months. The exchange remains committed to providing its customers with a broad array of tradable products that meet their hedging and investment needs, he added.

DGCX plans to host a webinar on 10th March, 2022 to discuss a variety of hedging strategies related to trading its G6 Currency Future Contracts, followed by a second one which will focus on its Shariah Gold Futures Contracts.