Dubai Gold and Commodities Exchange Reports All Time Records in July
Source: Mineweb (8/5/08)
The Dubai Gold & Commodities Exchange (DGCX) reached an all time high of 186,842 contracts valued in excess of US$12 billion in July for a 227% increase over July 2007.
Gold volumes increased 167% to 109,289 contracts in July compared to the same time last year.
Total January through July volumes were up 56% over the same period of last year, with 821,388 contracts traded with a value of US$43.3 billion.
Malcolm Wall Morris, CEO of the DGCX said, "Interest in derivatives is certainly gaining ground in the region...Growth has also been supported by the recent introduction of crude oil futures which has attracted substantial interest from the region and beyond."