Dubai Gold & Commodities Exchange Volumes Spiked in May

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) reported robust volume growth during the month of May this year. The Average Open Interest (AOI) stood at 208,343 contracts, valued at $12,853 million.

The year-to-date volume growth of the Silver Futures Contract was 139%, compared with the previous year. The newly launched Pakistani Rupee (PKR) Futures Contract continued its strong performance. A total of 2,028 lots valued at $26.38 million were traded since its launch in April. Meantime, the Average Daily Volume (ADV) of Indian Rupee Mini Futures Contract posted 45% year-on-year growth. The block trades during the month were valued at $763.1 million.

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Commenting on the achievement, Les Male, CEO, DGCX said that the strong growth demonstrated by its Silver Futures Contracts is a testament to the increased global demand for the precious metal over the past one year and its appeal as an optimal alternative to gold. The expansion of trading opportunities to Pakistani market resulted in surge in volume and value of PKR Futures Contract, he added.

DGCX reaffirmed its commitment to bring a host of new and value-added products for the benefit of its members.