It recorded a 78% increase in the trading volume of gold contracts on an annual basis

594.5 billion dirhams, the total trading of the Dubai Gold and Commodities Exchange during 2022

The Dubai Gold and Commodities Exchange launched two new contracts (forward and spot) in 2022 for physical gold.

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Yesterday, the Dubai Gold and Commodities Exchange announced market statistics for the entire year of 2022, recording a total of 8.239 million contracts with a total value of $ 162.01 billion (594.5 billion dirhams) during the year, which represents a growth of 16% and 8.24%, respectively. .

The stock exchange recorded 127.8 thousand, the average number of open contracts, and 31.8 thousand contracts, the average daily trading volume.

With inflation rates rising steadily over the course of 2022, investor interest in gold has increased, as the stock exchange recorded a 78% increase in the volume of gold contracts trading compared to the previous year.

Throughout the year, the exchange witnessed a steady rise in trading levels of the Indian rupee, as market participants sought to hedge their exposure to one of the world's fastest growing economies.

The Dubai Gold and Commodities Exchange also witnessed a growth in the trading volumes of the Japanese yen, Australian and Canadian dollars, and an increase in investor interest in the euro and the pound sterling.

Ahmed Bin Sulayem, CEO of the Dubai Gold and Commodities Exchange, said: “During the year 2022, the Dubai Gold and Commodities Exchange achieved significant double-digit growth across multiple measures amid an economic environment characterized by challenges and continuous fluctuations around the world.

With market participants focusing on trading currencies and gold, the Dubai Gold and Commodities Exchange launched both futures and spot contracts for the trading of physical gold.

The stock exchange also entered history by being the first UAE stock exchange to list (Israeli shekel futures) contracts, which provides traders on the stock exchange with greater diversity in products and enhances liquidity levels.

During 2023, the Dubai Gold and Commodities Exchange will continue to expand its operations by building new partnerships, and providing investors and market participants with innovative and value-added products and services that are comparable to the best offered by similar exchanges in the world.

In 2022, the Dubai Gold and Commodities Exchange launched two new contracts (forward and spot) for physical gold, as part of its strategic focus on becoming a reliable reference for gold pricing in the region.

The two products provide traders and financial institutions the ability to use physical gold as collateral to access affordable sources of short-term lending, backed by the collateral provided through the exchange clearing company.

This step came after the signing of a memorandum of understanding between the Dubai Gold and Commodities Exchange and the Precious Metals Company (FinMet), to expand the exchange's product portfolio, encourage trading activity and enhance participation in the market.

In a move described as historic, the Dubai Gold and Commodities Exchange announced its intention to list Israeli shekel futures contracts for trading on its platform, starting in June 2022. This step came within the framework of the exchange's strategic focus on diversifying foreign exchange product offerings and the rapidly growing currency sector.

• 8.23 ​​million contracts total trading volume.

• 8.24% growth in the total value of trading on an annual basis.

• 127.8 thousand average number of open contracts.

• 31.8 thousand contracts average daily trading volume.

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