DGCX records spike in gold and silver futures trading in august

DGCX records spike in gold and silver futures trading in august

Dubai: The Dubai Gold and Commodities Exchange (DGCX) saw a spike in trading of its precious metals portfolio in August, as investors and market participants turned towards safe-haven assets amidst continuing global economic uncertainty and a weakening US dollar. Last month, the DGCX saw its flagship Gold Futures product record year-to-date (YTD) volume growth of 47.64% compared to the same period last year, whilst its Silver Futures product recorded year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 281.77%.Les Male, CEO of DGCX, said: "This year, precious metals have asserted their status as safe-haven assets. Gold in particular has been in the headlines recently, gaining 17% in value in the first half the year, and last month settling above $2,000 an ounce for the first time ever. This was strongly reflected