DGCX May volumes surge 70%

Dubai Gold and Commodities Exchange (DGCX) volumes in May registered a 70 per cent year-on-year increase to reach 237,920 contracts valued at $ 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 per cent to total 1,148,833 contracts while year-to-date average daily volumes also rose 53 per cent to touch 10,941 contracts.

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

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

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

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

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