It recorded an average open interest rate of 191.9k contracts in March
Dubai Gold & Commodities: 209% growth in silver futures contracts within 3 months
The exchange witnessed an increased interest in Sharia-compliant products.
From the source
The Dubai Gold and Commodities Exchange announced yesterday that it recorded a monthly open interest rate of 191,974 contracts, last March, as precious metals again witnessed the strongest performance among the exchange's products, and silver futures contracts achieved a growth in the volume of their trading by 209%, since the beginning of this year Until the end of March 2021, compared to the same period last year.
In addition, the DGCX gold spot contracts recorded average daily volume growth of 151% year-on-year in March.
"During the first quarter of 2021 we witnessed a strong turnout for silver futures contracts, mainly due to the desire of market participants to hedge against risks, and to own well-known safe assets such as silver and gold," the CEO of the Dubai Gold and Commodities Exchange, Not Mel, said in a statement. .
He added, "We also noticed an increased interest in products that comply with Islamic law, through the strong performance of spot contracts for gold that are compliant with Islamic law during March," indicating that the opportunities available to expand the stock exchange's portfolio of mineral products by launching more contracts that comply with Islamic law. , Such as silver futures contracts, according to market conditions and the opinions and observations of exchange members and market participants.
It is noteworthy that the Dubai Gold and Commodities Exchange celebrated International Women's Day last month, by participating in the "Ring the Bell for Gender Equality" initiative, in its capacity as one of the signatories of the principles of women's empowerment (WEP).
Thus, "Dubai Gold and Commodities" joined more than 86 exchanges from around the world for the seventh annual celebration of the initiative.
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