DGCX Gold Futures Rise 111% as Exchange Sets Fourth Consecutive Monthly Volumes Record in June
Dubai's premier commodity exchange has announced promising results for a fourth straight month. Overall volumes were picking up since a sloppy first quarter.
- Exchange registers 889,131 contracts in June, valued at $32.92 billion, a growth of 231% from June 2011
- DGCX H2 2012 Volumes Rise 172% to aggregate 3,848,002 contracts
- Gold futures grow 111% in June to total 60,353 contracts
- Indian Rupee futures jump 290% to reach 797,328 contracts
Driven by significant surges in Gold and Indian Rupee futures trading, June volumes on the Dubai Gold and Commodities Exchange (DGCX) jumped 231% from last year to reach 889,131 contracts, the Exchange's fourth consecutive monthly volumes record. June volumes represent a value of $32.92 billion.
DGCX ended H1 2012 with year-to-date volumes of 3,848,002 contracts, a substantial rise of 172% from the previous year. Average daily volume (ADV) in the first half of the year stood at 29,829 contracts, a 167% increase year-on-year.
Gold futures, the Exchange's flagship product, grew 111% in June from the previous year to aggregate 60,353 contracts. Heightened Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and recent contract changes introduced by the Exchange were the key drivers of Gold futures growth. DGCX's currency segment rose 248% year-on-year to end the month at 804,554 contracts. Currency growth was led by Indian Rupee futures, which jumped 290% from June last year, to reach 797,328 contracts. Copper futures continued its robust performance, since its launch in April, to total 21,391 contracts in the month.
Gary Anderson, Chief Executive Officer, DGCX, said, "We are delighted to have ended the first half of the year on a high note. The expansion of our product portfolio, combined with our initiatives to expand Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, helped significantly boost the Exchange's growth momentum this year. Over the first half, we introduced strategic contract changes and new market makers to catalyse increased trading in many of our existing products. We look forward to introducing new initiatives to further consolidate this growth."
Dubai's premier commodity exchange has announced promising results for a fourth straight month. Overall volumes were picking up since a sloppy first quarter.
- Exchange registers 889,131 contracts in June, valued at $32.92 billion, a growth of 231% from June 2011
- DGCX H2 2012 Volumes Rise 172% to aggregate 3,848,002 contracts
- Gold futures grow 111% in June to total 60,353 contracts
- Indian Rupee futures jump 290% to reach 797,328 contracts
Driven by significant surges in Gold and Indian Rupee futures trading, June volumes on the Dubai Gold and Commodities Exchange (DGCX) jumped 231% from last year to reach 889,131 contracts, the Exchange's fourth consecutive monthly volumes record. June volumes represent a value of $32.92 billion.
DGCX ended H1 2012 with year-to-date volumes of 3,848,002 contracts, a substantial rise of 172% from the previous year. Average daily volume (ADV) in the first half of the year stood at 29,829 contracts, a 167% increase year-on-year.
Gold futures, the Exchange's flagship product, grew 111% in June from the previous year to aggregate 60,353 contracts. Heightened Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and recent contract changes introduced by the Exchange were the key drivers of Gold futures growth. DGCX's currency segment rose 248% year-on-year to end the month at 804,554 contracts. Currency growth was led by Indian Rupee futures, which jumped 290% from June last year, to reach 797,328 contracts. Copper futures continued its robust performance, since its launch in April, to total 21,391 contracts in the month.
Gary Anderson, Chief Executive Officer, DGCX, said, "We are delighted to have ended the first half of the year on a high note. The expansion of our product portfolio, combined with our initiatives to expand Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, helped significantly boost the Exchange's growth momentum this year. Over the first half, we introduced strategic contract changes and new market makers to catalyse increased trading in many of our existing products. We look forward to introducing new initiatives to further consolidate this growth."