Dubai Gold Exchange trading close to two million contracts, 45 billion dollars … during March

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Dubai – Mubasher: The Dubai Gold and Commodities Exchange recorded during the month of March a record growth in the average daily volume of gold futures contracts by 649.5 percent on an annual basis, with trading volumes since the beginning of the year to date increasing by 742.8 percent compared to the same period last year.

The total trading volume on the Dubai Gold and Commodities Exchange rose during the month of March to 1.8 million contracts, valued at $ 45.1 billion, and the average daily trading volume throughout the month rose to 82 thousand contracts, according to a press release.

The exchange attributed this to the fluctuations in the global markets as a result of the spread of the Corona virus, as investors increasingly resort to financial derivative products and services provided by the Dubai Gold and Commodities Exchange, as effective risk management tools.

The G6 core currency pairs portfolio on the exchange also witnessed a significant increase in trading volumes during the month of March, registering a growth of 390.8 percent year on year, and by 475.4 percent from the beginning of the year to date compared to the same period in 2019.

In another indication of the sustainable growth achieved by the stock market in terms of interest rates and liquidity, the rate of open interest recorded since the beginning of last month was 381 thousand contracts, compared to 269 thousand for the same period last year.

It is worth noting that the Dubai Gold and Commodities Exchange continues its activities naturally through trading and clearing platforms, while providing safe and reliable services to members and their clients with regard to price discovery and risk management operations, and the Stock Exchange does not expect any change to the usual trading or clearing activities, but in the event of an event Any change will be announced under market notice.



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