Financial Daily from THE HINDU group of publications
Thursday, Apr 06, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 06, 2006 |
|
|
|
|
|
|
|
Agri-Biz & Commodities
-
Commodity Exchanges DGCX volumes rise 167 pc in March Vimala Vasan
Abu Dhabi , April 5 The Dubai Gold and Commodities Exchange (DGCX) registered a record with volumes rising by 167 per cent in March. A statement from DGCX said that 43,945 contracts were traded in March against 16,421 in February. In value terms, $733.05 million of gold futures were traded in March 2006 against $293.36 million in February 2006 - an increase of 150 per cent. The total value of gold futures traded on DGCX since inception (November 22, 2005) now stands at $1.25 billion (70,471 kg of gold futures contracts). The month of March was eventful for DGCX, which also announced the launch of currency futures trading.
Silver futures
Another highlight of the month was that silver futures contracts started trading on DGCX on March 28. On the very first day itself, 1,158 contracts equivalent to approximately 34,750 kg (valued at $12.70 million) of silver futures were traded. As in other international markets, the near month contract maturing in April 2006 was traded most heavily. About 31,572 April 2006 contracts were traded in March against 14,199 in February, a jump of 122 per cent. With the April 2006 contract entering into the delivery period, the interest of market participants shifted towards the June 2006 expiry contract. Total open interest for gold futures - the number of contracts executed (bought or sold) but not closed out by the participants, as on March 31, 2006 stood at 734 contracts valued at $13.78 million.
More Stories on : Commodity Exchanges | Gold & Silver
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|