Dubai Gold and Commodities Exchange hits one million contracts in record time
The Dubai Gold and Commodities Exchange has passed the one million contracts milestone more than two months earlier than in previous years.
By the end of May 11, the exchange’s year to date volume had reached 1,005,841 contracts with a total value of US$49.1bn. The previous record for reaching one million contracts was set on July 18, 2010.
This also represents a 52% increase on the same period in 2010, when 0.66m contracts had changed hands by this point.
In addition, the average daily volumes also rose by 51% from the same period last year to 11,053.
The success of the Indian Rupee Dollar currency contracts swelled the year to date volumes by 1605% to reach 0.64m.
Gold and silver also grew in popularity over the same period, with...