DGCX Posts Total Trading Value of USD 13.681 Billion in February 2022

The month of February saw the Dubai Gold & Commodities Exchange (DGCX) register trades with a total value of USD 13.681 billion, as global markets responded to rising inflation, mounting oil prices as well as the Russian - Ukrainian conflict; which resulted in continued volatility during the last week of the month.

The exchange registered a monthly Average Open Interest (AOI) of 125,206 contracts during February – and saw its precious metals' portfolio lead trading activity. The Group's Gold Futures Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 734% while its Silver Futures Contract registered 75%.

Elsewhere, the DGCX Group saw a sharp spike in Indian Rupee (INR) trading, with its Rupee Mini Futures Contract, Rupee Options Contract and Rupee Weekly Contracts registering increases in 67%, 206% and 87% respectively. DGCX's West Texas Intermediary (WTI) Futures gained traction following increased volatility in oil markets – with a Y-O-Y ADV growth of 136%.

Les Male, CEO of DGCX, said: "Volatility has been a recurring theme over the past few months, with investors and traders continuing to grapple with a range of factors including inflation, oil prices and geo-political developments. Against this backdrop, we have seen our precious metals' portfolio lead trading activity on the exchange. We have also seen a sharp uptick in Indian Rupee trading as market participants look to hedge their exposure to one of the world's fastest-growing economies. DGCX remains committed to providing our customers with a broad array of tradable products that meet their hedging and investment needs."