Dubai: The Dubai Gold and Commodities Exchange (DGCX) today announced that during the month of March, it registered a monthly Average Open Interest (AOI) of 191,974 contracts.

Once again, the DGCX Group’s best performing product segment was precious metals, with its Silver Futures Contract recording a year-to-date (Y-T-D) volume growth of 209% compared to the same period last year. Additionally, the DGCX’s flagship Shari’ah Compliant Spot Gold Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 151% during March.

Les Male, CEO of DGCX, said: “During the first quarter of 2021, we recorded sustained interest in our Silver Futures Contract, largely driven by market participants’ desire to safeguard their risk and turn to reputed safe havens such as Silver and Gold. Another prevailing trend was a rising interest for products that comply with Islamic principles, as exhibited by the strong performance of our Shari’ah Compliant Spot Gold Contract in March. Subject to further conditions and market feedback, we are currently exploring opportunities to expand our metals portfolio with more contracts that adhere to Islamic principles – such as a Shari’ah based Silver Futures Contract.”

On March 8th, the DGCX as a signatory to the Women’s Empowerment Principals (WEP), honored International Women’s Day with a Bell Ringing ceremony for Gender Equality. The DGCX Group joined more than 86 exchange houses around the globe for the 7th annual ‘Ring the Bell for Gender Equality’ ceremony; an initiative held in partnership between the World Federation of Exchanges (WFE) and Sustainable Stock Exchanges (SSE), as well as UN Women, UN Global Compact, Women in ETFs and the International Finance Corporation.

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