Bahrain Bourse falls    A delegation of Caucasus Muslims visits King Abdulaziz Complex for Holy Kaaba Kiswa    KSA Provides 2 Million USD to Islamic Organization for Food Security    Saudi Press: KSA's Attractive Investment Environment    Asian markets mixed    Israeli forces arrest 22 Palestinians in West Bank    Command of Coalition to Restore Legitimacy in Yemen: Intercepting and Shooting Down A Drone Launched by Terrorist Houthi Militia from Saada towards KSA    Bahrain Bourse falls    Six Flags Qiddiya Unveils Park Design    SAGO to Import 780,000 Tons of Feed Barley    Lampard earns first win as Chelsea boss at Norwich    Saudi Youth Basketball Team Defeats UAE in the Gulf championship    Saudi Table Tennis Team Won 4 medals, during West Asian Championships    Saud Al-Haqbani Crowned with the Spanish Friendly Tennis Championship Shield    FAO Regional Director for Communication commends KSA for services for pilgrims    Al-Azhar Undersecretary praises KSA's services for pilgrims    SFDA Co-signs MoU with Bahraini National Organization for Regulation of Occupations, Health Services    Haifaa Al Mansour Represents Saudi Cinema at the Venice International Film Festival    A New Medical and Scientific Achievement to Serve Ophthalmology in KSA and the World    Neonate life is saved after successful Encephalocele operation    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    Custodian of Two Holy Mosques addresses Citizens and Muslims on the Advent of Holy Month of Ramadan    Ministry of Hajj and Umrah Launches Awareness Message on Sacrifice Day    Custodian of Two Holy Mosques addresses the Saudi people and Islamic nation on the blessed Eid Al-Fitr    Newcastle Beat West Ham 3-0 for their first Win of the Season    Mourinho insists Ibrahimovic must be good enough for Manchester United    Reforms have saved the economy from possible recession, say analysts    The King and Crown Prince congratulates Moldova's President    More than 1,5 million pilgrims arrive in Saudi Arabia, so far    MWL allocates SR 7 million for Eid sacrifice project in 47 countries    Saudi Campaign provides educational and training services for Syrians in Al-Za'tari camp    Saudi student goes missing in Kentucky, US    Harvey lashes Texas US coast with high wind, torrential rain    North Korea tests short-range missiles as South Korea, US conduct drills    Samsung leader Jay Y. Lee given five-year jail sentence for bribery    Known days    "MODON" Signs MoU with Chinese Goldwind Company for wind-turbines manufacturing in the Kingdom    Flyadeal, Saudi Arabia's new low-cost airline, scheduled to launch on September 23, reports    Mastercard launches Masterpass in the Kingdom of Saudi Arabia    Honda among 27 Japan players named for World Cup qualifiers    Joker, Harley Quinn movie in works with 'Crazy Stupid Love' filmmakers    Madhuri Dixit to venture into Marathi films as a producer    Consumers warned against using some brands of face powder, hair products    How 'GOT' makers made the frozen lake in 'Beyond the Wall'    Shraddha Kapoor wants people to help the needy    Neymar targets improvement after phenomenal home debut    Politicizing the pilgrimage    Rakhi 2017: "Bond of Love" between a brother and his sister    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Gold and currencies growth seen amid risks, uncertainty
Published in The Saudi Gazette on 03 - 07 - 2017

Gold and Commodities Exchange (DGCX), the region's largest and most diversified derivatives bourse, witnessed a surge in Gold and currencies trading in June, which can, in part be attributed to the recent listing of additional ‘Calendar spreads' on the Exchange's Gold Futures and G6 Currency contracts.
‘Calendar spreads' also known as ‘Futures or Intermonth Calendar Spreads' are a set of futures trading strategies that utilizes future contracts of different expiration months on the same underlying asset. Calendar Spreads are designed for traders to benefit from the difference in movement between near term futures contracts and longer term futures contracts.
In the first half of the year, DGCX's Precious Metals segment demonstrated consistently strong performance amidst the rising uncertainty surrounding economic policies and geopolitical risks across the globe. Both Shanghai Gold futures and Spot Gold set record volumes in June, trading their highest monthly volumes and also recorded their highest Average Open Interest (AOI) too. The Loco-Dubai Spot Gold contract achieved its highest monthly volume of 4,702 contracts with a traded value of $189.62 million, while it was also a record month for deliveries with over 335kg being exchanged. The contract also saw a significant jump of 1766% over the same period last year, trading a total of 10,172 contracts to-date in 2017. The Yuan-denominated Shanghai Gold Futures traded its highest monthly volume of 3,433 contracts with a value of $967.43 million.
G6 currencies continued their upward trajectory in June 2017 vis-à-vis the same period last year with volumes up in Japanese Yen (313%), Euro (56%), Canadian Dollar (815%) and Swiss Franc (692%); aided by the aforementioned Calendar Spreads.
Gaurang Desai, CEO of DGCX, commented on the Exchange's H1 performance: "DGCX's robust performance in the first half of the year was influenced by two key factors; Changes being rolled out by President Trump's policy initiatives, Elections in the UK with the start of Brexit negotiations and other global geopolitical developments, which led investors to use the DGCX to effectively manage their risk. However, the second catalyst for DGCX's volume growth is a combination of key initiatives rolled out during the first half of the year, including the successful launch of a Chinese gold derivative product, the Exchange's enhanced risk management framework, the growing number of strategic partnerships (involving local banks and other international exchanges), and the recent listing of additional calendar spreads on DGCX's key products.
These initiatives have proved valuable adding more depth and confidence to the marketplace. As we move into the second half of the year, we will continue to focus our efforts on tapping similar opportunities that are essential for the further growth of DGCX as well as developing innovative products that are pertinent to our market participants." — SG


Clic here to read the story from its source.