360° Coverage : Dubai gold bourse volumes rise 56 percent

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Dubai gold bourse volumes rise 56 percent

Nov 12 2013, 6:20am CST | by IANS

Dubai, Nov 12 (IANS/WAM) The year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 56 percent in October from the same period last year to total 12.17 million contracts, valued at $25 billion.

Dubai, Nov 12 (IANS/WAM) The year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 56 percent in October from the same period last year to total 12.17 million contracts, valued...

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49 weeks ago

Dubai gold bourse volumes rise 56 percent

Nov 12 2013, 6:20am CST | by IANS

Dubai, Nov 12 (IANS/WAM) The year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 56 percent in October from the same period last year to total 12.17 million contracts, valued at $25 billion.

Dubai, Nov 12 (IANS/WAM) The year-to-date volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 56 percent in October from the same period last year to total 12.17 million contracts, valued at $25 billion.

Among the key highlights of October trading was the robust growth of precious metals contracts.

Gold futures volumes increased 60 percent from last month to reach 45,928 contracts while silver futures rose 88 percent, hitting its highest monthly volume of 2,882 contracts this year.

"The precious metals sector, especially gold, continues to be a key focus of the exchange's strategic product portfolio expansion plans," Gary Anderson, chief executive officer of DGCX, was quoted as saying Tuesday.

"The imminent launch of our spot gold contract will strengthen the exchange's precious metal product offering. With almost a quarter of all physical gold traded globally passing through Dubai, we believe there is a very strong market for a spot gold contract," he added.

According to Anderson, such a contract will not only help merchants enhance price risk management and profitability, but "will also enhance liquidity in the gold market by removing the need for offshore credit and collateral for gold trading".

October trading volumes helped DGCX gold futures increase its market share in Asia by 2 percent, reinforcing its status as one of the highest traded gold futures contract in Asia.

The DGCX Indian rupee futures continues to be the highest traded offshore rupee futures contract in the world.

The contract's market share in global rupee futures trading stood at 33.69 percent in October, significantly above all other exchanges offering offshore trading in the contract.

--IANS/WAM

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Update
11

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Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
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Source: Business Insider   Full article at: Business Insider
 

 
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Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
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SHARJAH Fit-again Australian captain Michael Clarke said Tuesday he hopes his team can carry the momentum of its Twenty20 and one-day wins over Pakistan into the two-match Test series starting next week. Australia routed Pakistan 3-0 in the one-day series which finished on Sunday and also won the only Twenty20 match by five wickets in Dubai. The 33-year-old, who sat out the one-day series ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
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Source: Reuters India   Full article at: Reuters India
 

 
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1 week ago

Misbah hints at stepping down as captain

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DUBAI-  Following Pakistan’s debacle against Australia, captain Misbah-ul-Haq has hinted at stepping down. “If could not return to form before World Cup, I will step down my captaincy,” said the Green Shirt captain in his interview to a foreign newspaper in Dubai. His remarks came a day after Australia completed 3-0 series whitewash against Pakistan in the third One Day ...
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The Weekend Is Over, And The Global Selloff Is Continuing

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Source: Business Insider   Full article at: Business Insider
 

 
Update
2

1 week ago

Gulf stocks dive over global growth fears, oil prices

Oct 12 2014 9:38am CDT | Source: Business Insider

Kuwait City (AFP) - Share prices in the energy-rich Gulf states nosedived on Sunday with investors spooked over global growth fears, declining oil prices and conflicts, analysts and traders said.All seven bourses, most of which resumed trading Sunday after a week-long Muslim holiday, ended in the red with Saudi Arabia and Dubai taking the lead.The Saudi Tadawul All-Shares Index (TASI), the largest in the Arab world, tumbled 6.51 percent to clo ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
1

1 week ago

Misbah hopes to win the last ODI against Australia

Oct 11 2014 7:07am CDT | Source: The Nation - Pakistan

Dubai- Pakistan skipper Misbah-ul Haq today vowed to fight on despite losing the one-day series against Australia. Pakistan went down by five wickets in the second day-night international in Dubai, handing Australia an unbeatable 2-0 lead in the three-match series. The defeat further added pressure on the embattled Pakistan captain as former greats demanded Misbah to ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 

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