DGCX Market Activity Report – May 2008
Exchange’s YTD volumes grow by 23% to touch 497,958 contracts
Contracts worth $ 4.98 billion were traded in May 2008
Dubai Gold and Commodities Exchange (DGCX) today reported total volumes of 89,550 contracts for May 2008, valued at $4.98 billion
Total year-to-date volumes touched 497,958 contracts, representing a 23 per cent increase over the previous corresponding period. The growth was led by higher activity in precious metals and currencies. Year-to-date comparisons reflected a rise in volumes for gold futures at 12 per cent, gold options at 575 per cent, silver at 153 per cent, Euro at 135 per cent, British Pound at 28 per cent.
In May 2008, gold futures recorded a total volume of 51,558 contracts, valued at $ 1.48 billion. Volumes for gold options in May aggregated 220 contracts.
The month saw silver volumes rise to 466 contracts, up 298 per cent as compared to same period last year. The Average Daily Volume for silver was 21 contracts, higher by 320 per cent.
Volumes for Euro futures in May rose 226 per cent year-on-year, with a total of 12,942 contracts worth $ 1 billion changing hands. The ADV for Euro was 588 contracts, recording a 240 per cent increase over May 2007.
The British Pound also recorded a 39 per cent increase in volumes to touch 14,853 contracts. ADV for British Pound was up 45 per cent at 675 contracts.
Among other currencies, Rupee and Yen registered volumes of 1,429 and 502 respectively.
DGCX also launched its West Texas Intermediate (WTI) and Brent crude oil futures contracts on May 27. The average daily volumes for WTI and Brent, calculated based on four trading days, were 1,795 and 22 contracts respectively.
Total open interest as on May 31, 2008 was 4056 contracts.
