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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1 year 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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IANS

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Update
10

6 weeks ago

A lifetime of perks in UAE help cushion wealth gap

Nov 4 2014 6:16am CST | Source: Elyria Chronicle-Telegram

UMM AL-QUWAIN, United Arab Emirates (AP) — The United Arab Emirates contains the world’s tallest building, an artificial indoor ski slope and man-made islands shaped like the world. Dubai’s fleet of police cars includes a $2.5 million Bugatti Veyron and a $500,000 Lamborghini Aventador. Look past the blinding glitz, though, and you discover a gulf separating the elite and Read More...The post A lifetime of perks in UA ...
Source: Elyria Chronicle-Telegram   Full article at: Elyria Chronicle-Telegram
 

 
Update
9

6 weeks ago

Pakistan win first series against Australia in 20 years

Nov 3 2014 3:17am CST | Source: Business Insider

Abu Dhabi (AFP) - Pakistan won the second Test against Australia by 356 runs in Abu Dhabi on Monday to take their first series victory over the Australians in 20 years.Australia, set a 603-run target, were dismissed for 246 soon after lunch on the fifth and final day. Pakistan won the first Test by 221 runs in Dubai. Join the conversation about this ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
8

6 weeks ago

Alcatel-Lucent et MTN Nigeria dotent le pays le plus peuplé d’Afrique d’un réseau fibre optique 100G très haut débit

Oct 30 2014 4:26pm CDT | Source: Africa Business

Alcatel-Lucent (Euronext Paris et NYSE : ALU) (http://www.alcatel-lucent.com) déploie un réseau de fibre optique 100 Gbit/s très haut débit avec MTN Nigeria, filiale du groupe MTN basé à Dubaï et principal fournisseur de services en Afrique. Le pays le plus peuplé d’Afrique pourra ainsi tirer pleinement parti des avantages d’une connectivité très haut ...
Source: Africa Business   Full article at: Africa Business
 

 
Update
7

7 weeks ago

Musharraf’s mother arrives in Karachi from Dubai

Oct 28 2014 2:35pm CDT | Source: The Nation - Pakistan

KARACHI- Former president General (retd) Pervez Musharraf’s mother arrived in Karachi from Dubai today to meet her son. Zareen Musharraf flew via Pakistan International Airlines (PIA) flight PK-203 which landed at Jinnah International Airport, Karachi at 3:50pm. Medical equipment especially the oxygen kit was se ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
6

7 weeks ago

Spin-hit Australia will try to bounce back

Oct 28 2014 2:00pm CDT | Source: The Nation - Pakistan

ABU DHABI - After failing another Asian spin test, Australia will strive to bounce back in the second and final Test against Pakistan starting in Abu Dhabi on Thursday. The world number two team were all at sea against an inexperienced but effective Pakistan spin attack and suffered a crushing 221-run defeat in the first Test in Dubai. It was their fifth consec ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
5

7 weeks ago

Waqar warns wounded Australia will strike back

Oct 28 2014 2:00pm CDT | Source: The Nation - Pakistan

ABU DHABI - Pakistan coach Waqar Younis on Tuesday warned his team to be prepared for a backlash from wounded Australia in the second Test. Pakistan thrashed Australia in the first Test by 221 runs in Dubai on Sunday. They now seek their first series win over Australia for 20 years in the second Test starting in Abu Dhabi from Thursday. But Waqar, a member of the team which last b ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
4

7 weeks ago

IDBI Bank raises $350 million from bond sale

Oct 28 2014 10:07am CDT | Source: Bridgeville Public Library

According to a note by international rating agency Fitch, the Mumbai-based lender raised $350 million in overseas senior unsecured notes through its D ...
Source: Bridgeville Public Library   Full article at: Bridgeville Public Library
 

 
Update
3

7 weeks ago

Younus has scaled heights by respecting the game

Oct 26 2014 2:00pm CDT | Source: The Nation - Pakistan

Any cricketer who has become the highest century-maker for his country would have achieved the feat due to some special qualities. It may be his approach to the game, unquenchable passion for the game, burning determination to excel and most importantly a lot to do with his character. Younus Khan, who became the highest century maker for Pa ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
2

7 weeks ago

Spinners star in crushing win over Australia

Oct 26 2014 2:00pm CDT | Source: The Nation - Pakistan

DUBAI - Spinners bowled superbly to steer Pakistan to 221-run thrashing triumph over Australia in the first Test here Sunday and helped take unassailable 1-0 lead in a two-Test series. It was the biggest victory against Australia by Pakistan by the margin of runs and seventh time in the Test history that Pakistan defeated a ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
1

7 weeks ago

Younis breaks Inzamam-ul-Haq century’s record in Test

Oct 25 2014 8:19am CDT | Source: The Nation - Pakistan

DUBAI- Pakistan experienced batsman Younis Khan has knocked back to back consecutive Test centuries against Australia and broke most century’s record of his teammate player Inzamam-ul-Haq at Dubai International Cricket Stadium on Saturday, October 25. Pakistan declared batting on 286 runs (lead 437) after splendid century of Younis in second inn ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
 

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