The Phaserl


Silver futures contracts soar 354% in January at Dubai Exchange

by Shivom Seth,

The Dubai Gold and Commodities Exchange (DGCX) has set its sights on growing its role as a global financial hub and has recorded a thumping start to 2014, with a total of 1,043,200 contracts traded in January, an increase of 36% over December 2013.

Among precious metals, DGCX Gold futures recorded 38,531 contracts, a month on month increase of 5%. Silver futures also experienced strong volume growth of 354% from January last year, and an increase of 35% from December 2013.

Gary Anderson, Chief Executive Officer, DGCX noted that a promising start to the year had been made. Annual volumes in 2013 grew 43% from 2012 to reach 13,759,255 contracts, the Exchange’s highest ever.

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