Boom in gold prices increases trade value
Higher gold prices increased trading of Dubai Gold Securities (DGS) on the Nasdaq Dubai by 230 per cent from July to August this year to 6,075 securities.
DGS tracks the spot price of gold and are structured products that can be traded like equities on the Nasdaq Dubai through a broker.
The total value of DGS traded on the Nasdaq Dubai reached $1.44m in the first eight months of 2011, up from $866,000 in the same period last year.
Total equities traded from January to August amounted to $511m of which 6.6 per cent were carried through by individual investors.
Total equities traded value on the exchange in August this year was $73.2m, down 7 per cent from the same period last year.
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