DGCX November volumes marginally up

Trading volumes on the Dubai Gold & Commodities Exchange (DGCX) reached 191,843 contracts in November, valued at $9.6 billion, led mainly by activity in currencies and precious metals.

November volumes increased marginally one per cent year-on-year but declined nine per cent on last month due to the Exchange being closed for several public holidays in November.

Year-to-date, the exchange is currently up 33 per cent on last year, with 1,760,570 total contracts traded as at end November, compared with 1,322,800 contracts during the same period last year.

Currency futures recorded 132,126 contracts in November, a year-on-year increase of 47 per cent and value of $6.7 billion. Year-to-date currency futures volumes reached 1,167,843 contracts, a growth of 122 per cent on last year. Indian rupee futures continue to achieve record trading activity this year, with 382,620 contracts traded year-to-date, a 561 per cent increase on the same period last year.

Indian rupee/dollar, euro/dollar, sterling/dollar and yen/dollar futures registered monthly volumes of 92,639; 18,717; 9,329 and 2,198 contracts respectively. The new currency pairs Australian dollar, Canadian dollar and Swiss franc, introduced in June 2010, saw monthly volumes of 3,094; 3,781 and 2,368 contracts.

In the precious metal and energy segments, trading in gold and silver futures saw a slight drop last month with 47,466 and 4,273 contracts traded, while WTI crude oil futures registered 7,978 contracts.

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