Traded volumes on DGCX established a new record for the highest number of contracts traded in a day since inception. Beating the earlier record of 9372 contract achieved on 17th April 2007 by miles, the Exchange clocked a traded volume of 12877 contracts valued at $853.93 million. The value of the contracts traded during the day was nearly four times the previous highest figure of $267.20 million recorded on April 17, 2007. The notable feature of today’s trading was that the currency market volumes at 7375 contracts comprehensively beat the precious metals volume for the first time in the history of the Exchange. The charge was led by DGCX GBP contract that netted trades of 7176 contracts during the day. The precious metals market slumped today with gold futures losing ground by over a percent and silver prices declining by more that 2%. In the Forex markets the US dollar continued to weaken against the Euro but pulled back slightly against the British pound and yen.
DGCX June 2007 maturity gold futures contract began the day on a hesitant note as it opened lower by 30 cents at $692.90/troy oz. Prices initially climbed an intraday high of $693.20 but saw a reversal of trend thereafter. Persistent selling pressure later in the session brought the prices down to a session low of $683.30/troy oz. The contract finally settled for the day at $685.80/troy oz logging in a loss of $7.40/troy oz or 1.07%. Open positions in the June series dropped by 19 contracts and ended the day at 3304. Gold futures for August delivery opened at $698.60/troy oz which remained its highest traded price for the session. The contract subsequently declined to an intraday low of $688.90 before settling for the session with a loss of $7.40 at $691.90/troy oz. Open positions in the August futures fell by 130 contracts and ended the session at 2411. DGCX July 2007 delivery silver futures contract witnessed more weakness as compared to the yellow metal. It settled for the day at $14.020/troy oz down by 2.27% or 32.50 cents per troy oz.
In the currency market segment, the DGCX Euro contract dated June started the session at $1.3621/Euro and fell initially to a session low of $1.3596. Later in the session it shot up to a high of $1.3641 before closing at $1.3640/Euro - up by 0.26% for the day. DGCX GBP contract for June ’07 opened at $2.0036/GBP. Accompanied with strong trading interest the contract hit a session high of $2.0039 before declining to an intraday low of $1.9983. Prices finally settled at $2.0002, showing a loss of 0.29%. The September delivery GBP contract settled at $1.9983/GBP clocking a traded volume of 3316 contracts. DGCX June dated Yen futures declined by 0.07% for the day to settle at an exchange rate of $0.8512 for 100 Yen.
DGCX Fujairah Fuel Oil contract for May 2007 delivery shed $1 from its previous close and settled for today’s session at $330.50/metric ton.
In the US energy markets, crude futures dropped more than two percent today, finishing at their lowest level in more than a week. May-dated crude dropped $1.30 to finish at $61.83 per barrel.
