 |
|||
|
|||
|
|
||
February 09, 2009 |
 |
Commodity Online
DUBAI: Dubai Gold & Commodities Exchange (DGCX) today said volumes for the first month of this year had started on an encouraging note despite the challenging global economic environment, with overall volumes in January growing 33% on the previous month.
Gold and currency futures emerged as the key drivers of volume for the month, taking volumes to 38,366 contracts in January 2009 compared with 28,772 contracts in December 2008. Average Daily Volume in January was 1,827 contracts, 21% above the previous month.
The Exchange’s strategy of offering a diversified product portfolio has paid off, said Nishat Bandali, Chief Marketing Officer, DGCX. “The positive trend in January volumes indicates a fair start to this year.”
Bandali added that given the current economic climate, market participants are more inclined to transact derivatives on DGCX, in order to reduce counterparty credit risk. “Operating the region’s sole commodity and currency derivatives clearing house, DGCX is well positioned to meet this trend”.
DGCX, the Middle East's leading derivatives exchange, had underlined its offering with a robust overall performance in 2008. The Dubai Gold & Commodities Exchange (DGCX) posted strong growth in precious metals, currencies and energy and diversified its portfolio by introducing innovative products into the Middle Eastern market.
The exchange recorded 26% year-on-year growth with 1.14 million contracts, valued at US $57.5 billion, traded in 2008. Average daily volume touched just over 4,500 contracts in 2008, an increase of 28% compared with 2007. Since inception in November 2005, over 2.6 million contracts have been traded with a value in excess of US $107 billion.
To buy Hallmarked 999.9 Pure Swiss Gold Bars, Gold Bullion, Gold Ingots & 916 Gold Coins in Singapore or convert your 916 Physical Gold to physical 999.9 Pure Swiss Gold Bars, Click on Buy Gold to find out more. You may Sell Gold to us too.
[ Back To Home ]
[ Site Map ] [ Terms & Conditions ] [ Disclaimer ] [ Contact ] [ How To Link To Us ] [ Gold Directory ]
©
2008 GoldTraderAsia.com. All Rights Reserved. Singapore Gold Bullion Dealer
Buy Gold & Sell Gold - Singapore Gold Bullion Dealer