Among the key highlights of October trading was the robust growth of precious metals contracts. Gold Futures volumes increased 60% from last month to reach 45,928 contracts while silver futures rose 88%, hitting its highest monthly volume of 2,882 contracts this year.
DUBAI: Dubai Gold and Commodities Exchange (DGCX) plans to launch a spot gold contract to strengthen the exchange's precious metals offerings, according to Gary Andersen, Chief Executive Officer of DGCX.
"With almost a quarter of all physical gold traded globally passing through Dubai, we believe there is a very strong market for a spot gold contract. Such a contract will not only help merchants enhance price risk management and profitability, it will also enhance liquidity in the gold market by removing the need for offshore credit and collateral for gold trading," Gary Andersen said.
Among the key highlights of October trading was the robust growth of precious metals contracts. Gold Futures volumes increased 60% from last month to reach 45,928 contracts while silver futures rose 88%, hitting its highest monthly volume of 2,882 contracts this year.
Year-to-date volumes grew 56% in October from the same period last year to total 12.17 million contracts, valued at $25 billion.
courtesy of bullionstreet
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