The gold futures contract on the Dubai Gold and Commodities Exchange continued, during the past month, its strong performance that started with the year, as trading increased by 773.6%, since the beginning of this year until now, compared to the same period last year, which was boosted by the record trading volume in January , Which has reached its highest level in the past years.
The stock market, in a statement yesterday, pointed out that this strong growth came in light of the uncertainty that prevails in the global economy, and is pushing investors to move increasingly towards safe assets.
The total trading volumes on the Dubai Gold and Commodities Exchange reached 1.49 million contracts during last February, while the open interest rate, since the beginning of the year until now, has reached 367 thousand and 878 contracts, compared to 243 thousand and 409 contracts in the same period of 2019, an increase of% 51.1%.
The trading of the six major currency pairs (G6) on the Dubai Gold Exchange recorded a strong performance in February, as the asset class achieved a total growth in trading volume of 18.1%, with a total value of $ 7.2 billion. The euro dollar futures contract was the best performing in this category, recording transactions amounting to 76 thousand and 595
Contract, with a growth of 41.1% on a monthly basis.
"The unexpected events, during the first two months of this year, led to a shock in the global markets," said the CEO of the Dubai Gold and Commodities Exchange, not a tendency, noting that "investors are taking a cautious approach to the global economy, and are increasingly turning to investment in Products that can help them manage risk. ” He added, "This is reflected in the trading volumes on the Dubai Gold and Commodities Exchange, as a result of more investors realizing the distinguished value that our products offer for hedging purposes." Providing our members with a wide range of tools, to protect their investments and enhance safety levels.