DGCX may volumes surge 70% year-on-year to reach 237,920 contracts

Press release

Published June 6th, 2011 - 12:42 GMT

Gold futures sustained their solid growth in 2011 to rise 39% year-on-year, reaching 60,638 contracts

DGCX volumes in May registered a 70% year-on-year increase to reach 237,920 contracts valued at US $ 11.76 billion, the highest monthly value ever recorded on the Exchange. Precious metals and Indian Rupee futures were the standout performers of the month.

Year-to-date volumes on the Exchange climbed 55% to total 1,148,833 contracts while year-to-date average daily volumes also rose 53% to touch 10,941 contracts.

Gold futures sustained their solid growth in 2011 to rise 39% year-on-year, reaching 60,638 contracts. Silver futures grew 46% to touch 7,937 contracts.

Currency futures accounted for almost 70% of the month’s volumes. Year-to-date currency volumes increased 72% to reach 874,609 contracts. Indian Rupee Futures sustained its high-growth trend expanding by 1,413% over the same period last year.

Volumes for DGCX Euro/Dollar and Yen/Dollar futures increased 3% and 56% on last month to reach 14,508 and 1,947 contracts respectively, while Sterling/Dollar declined 44% month-on-month to reach 6,006 contracts. Australian Dollar, Canadian Dollar and Swiss Franc grew 35%, 277% and 131% from April to aggregate volumes of 4,951, 1,223 and 5,525 contracts respectively.

Meanwhile, WTI crude futures grew 36% from last month to reach 4,190 contracts.

Background Information

Dubai Gold & Commodities Exchange

Dubai has historically been an international hub for the physical trade of not only gold, but also many other commodities and so the establishment of the Dubai Gold & Commodities Exchange (DGCX) was the next logical step for the region and the local economy. DGCX commenced trading in November 2005 as the regions first commodity derivatives exchange and has become today, the leading derivatives exchange in the Middle East.