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FINANCIAL NEWS
DGCX reports 12% decline in May trading volumes
03 Jun 2010
(MENAFN) The Dubai Gold & Commodities Exchange (DGCX), a leading derivatives exchange in the region, said that it traded 139,565 contracts valued at $7.64 billion in May, down 12 percent compared to same period last year, Gulf News reported.
The DGCX however recorded a 30 percent month-on-month increase in May. Of the total volume, 79,889 contracts were traded in DGCX currency futures, posting an increase of 128 percent on last year.
Last month’s volumes grew in comparison to the previous month. Gold, Silver and WTI crude oil futures traded 43,525, 5,446 and 10,705 contracts, a rise of 40 percent, 119 percent and 63 percent respectively, said a DGCX statement.
Euro/Dollar and Sterling/Dollar also witnessed month-on-month increases of 68 percent and 7 percent respectively, with 39,787 and 24,903 contracts traded. The slight decline in May compared with the same period last year was due to lower volumes in gold and WTI crude oil futures, the statement added.
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