Dubai Gold & Commodities Exchange volumes peak in June

Total trading volumes on the Dubai Gold & Commodities Exchange (DGCX) rose to an all-time monthly high in June of 192,138 contracts, surpassing the previous peak achieved in November 2009.

The strong activity was led by sizeable volume increases across all products - precious metals, currencies and crude oil. Month-on-month volumes rose by 24 per cent for gold, 95 per cent for Euro/Dollar, 40 per cent for Indian Rupee (Rs) and 187 per cent for West Texas Intermediate (WTI) futures. 

Setting another record, the volume of Indian Rupee/Dollar futures also scaled a new monthly high in June, at 12,159 contracts.

Trading and participation on the exchange has expanded by 48 per cent since the start of 2010 with 934,403 contracts this year compared to 631,850 contracts over the same period in 2009.

The underlying value of total commodity and currency futures transactions in June was $10.8 trillion.

“June marked several milestones for the exchange,” says Eric Hasham, chief executive of DGCX. “In addition to achieving the highest traded overall and Rs volumes, June also saw the launch of three new currency contracts.”