DGCX continues to register strong interest in silver, gold futures contracts
The exchange is exploring opportunities to expand our metals portfolio with more contracts that adhere to Islamic principles
DUBAI — The Dubai Gold and Commodities Exchange (DGCX) on Thursday announced that it registered a monthly Average Open Interest (AOI) of 191,974 contracts in March.
Once again, the DGCX Group’s best performing product segment was precious metals, with its Silver Futures Contract recording a year-to-date (Y-T-D) volume growth of 209 percent compared to the same period last year.
Additionally, the DGCX’s flagship ShariahCompliant Spot Gold Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 151 percent during March.
“During the first quarter of 2021, we recorded sustained interest in our Silver Futures Contract, largely driven by market participants’ desire to safeguard their risk and turn to reputed safe havens such as Silver and Gold,” Les Male, CEO of DGCX, said.
Another prevailing trend was a rising interest for products that comply with Islamic principles, as exhibited by the strong performance of our Shari’ah Compliant Spot Gold Contract in March, he said.
“Subject to further conditions and market feedback, we are currently exploring opportunities to expand our metals portfolio with more contracts that adhere to Islamic principles – such as a Shariah based Silver Futures Contract,” Male said.