July volumes at Alpari Group came in at $177 billion, which represents a -6.8% drop MoM from August. This is on par with a similar decline reported earlier in September, in which Alpari RU FX volumes dropped -6% in August.
Commodities Offsetting Lackluster Trading Volumes?
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The past quarter has seen a particular uptick in commodities trading, namely in light of various geopolitical events around the world, including the outbreak of several conflicts in the Middle East and Russia. As a result, trading in gold and oil has helped buoy lackluster volumes and mitigate what otherwise has been a rather forgettable August for several brokers.
In particular, Alpari UK saw the number of individual gold trades jump 92% in this past quarter, fortified by volumes increases of 40%.
According to Hannah Hill, Global Head of Marketing, in a statement on the August volumes, “We’re seeing a renewed interest in gold as traders react to global news stories. Our latest advertising campaign reflects this – focusing on what’s currently happening in gold and oil markets and asking what’s next. This stands out in the financial press by challenging traders to consider the future of these major markets.”