Gold futures trading on DGCX climbs amid coronavirus concerns – The National

Gold futures trading on DGCX climbs amid coronavirus concerns – The National

Gold futures trading on DGCX climbs amid coronavirus concerns. The exchange sees year-to-date volume growth of 773.6 per cent in gold futures. Gold futures trading on the Dubai Gold and Commodities Exchange (DGCX) is spiking as investors flocked to safe-haven assets in the wake of the coronavirus outbreak that threatens to slowdown the global economy.. "Unforeseen events during the first two months of this year have sent shock-waves across global markets.. Investors are bearish on the global economy and increasingly turning to products that can help them manage their risk," Les Male, chief executive of DGCX said.. DGCX also said on Monday it is planning to start new FX (foreign exchange) products, including the launch of FX Rolling contracts - perpetual rolling FX contracts for three currency pairs.. It already offers contracts on G6 currency pairs, and said trading across these grew 18.1 per cent in February, with an underlying value of $7.2bn.. A futures contract on the euro and US dollar is its most actively-traded pair, with 76,595 contracts traded last month - a 41.1 per cent month-on-month increase.. INR Mini Futures was the standout performer, trading 113,521 contracts, up 43 per cent month-on-month and 9.6 per cent year-on-year..