DGCX achieves record 1.143 million contracts.Byline: Dubai Dubai Gold & Commodities Exchange has announced that 1,142,814 contracts, valued at $58 billion, have been traded in 2009 as at November 2, against the total volume of 1,142,293 contracts in 2008. The exchange also recorded a total volume of 137,994 contracts in October, representing a year-on-year increase of 159 per cent. Valued at $7.2 billion, trading activity in October was supported by growth in all product segments; precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. , energy and currencies. Gold futures volume for October was 64,613 contracts, up 84 per cent compared with the same period last year. Silver futures increased to 4,081 contracts in October, up from 40 contracts the previous year. Within the currency segment; volumes for the Euro/Dollar and GBP/Dollar pairs increased by 155 per cent and 118 per cent to 17,139 and 19,659 contracts respectively. Indian Rupee Noun 1. Indian rupee - the basic unit of money in India; equal to 100 paise rupee Indian monetary unit - monetary unit in India paisa - a fractional monetary unit in Bangladesh and India and Nepal and Pakistan and Japanese Yen “Yen” redirects here. For the other use, see Yen (disambiguation). “JPY” redirects here. For the Australian singer with the same moniker, see John Paul Young. futures traded 7,469 and 4,726 contracts respectively in October, a substantial increase on last year. WTI WTI West Texas Intermediate WTI Western Transportation Institute (Montana State University) WTI World Tribunal on Iraq WTI With The Idea (used in chess to point to the idea behind a specific move) crude oil futures volume was 20,307 contracts, up by 967 per cent on October last year, reflecting a recovery from volumes impacted by the credit crisis in the last quarter of 2008. "The growth in October volume and the momentum achieved to date this year emphasises the role of DGCX DGCX Dubai Gold & Commodities Exchange and derivatives in general for managing risk arising from uncertain market conditions" said Eric Hasham, chief of DGCX. "It also highlights the benefits of the exchange's diversified product portfolio which is designed to meet the requirements of all market participants," he added. As part of DGCX's ongoing awareness and educational programme, the exchange will be supporting and speaking at the 5th Middle East Forex Forex See: Foreign exchange Expo & Conference at Jumeirah Emirates Towers The Emirates Towers complex contains the Emirates Office Tower and Jumeirah Emirates Towers Hotel on November 17 and 18.- TradeArabia News Service Copyright 2008 www.tradearabia.com Copyright 2009 Al Hilal Publishing & Marketing Group Provided by Syndigate.info an Albawaba.com company |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion