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October volumes on the Dubai Gold & Commodities Exchange (DGCX) grew 52% year-on-year to set a new monthly record of 209,994 contracts, valued at US $10.61 billion, surpassing the previous high of 192,138 contracts recorded in June this year.
Increased trading activity throughout October also saw year-to-date (YTD) volumes rising 39% to reach 1,568,727 contracts, the earliest point that the Exchange has crossed the 1.5 million mark in any year since inception. Average daily volume was 10,000 contracts in October, a 59% increase on last year and a 34% increase on last month.
DGCX currency futures were again the prime driver of growth with monthly volumes growing 202% to reach 147,977 contracts in October. DGCX Indian Rupee futures sustained its record run, setting its fifth consecutive monthly high with 97,353 contracts, a 39% increase from last month. Indian Rupee futures also established a new daily volume record on October 21st with 6,099 contracts traded. New currency contracts; Australian Dollar, Canadian Dollar and Swiss Franc futures, recorded strong growth, increasing 81%, 141% and 43% on last month to achieve volumes of 4,170, 6,208 and 4,745 contracts respectively. Euro/Dollar, Sterling/Dollar and Yen/Dollar saw volumes of 21,192, 11,080 and 3,229 contracts respectively.
Within the precious metals segment, DGCX Gold futures saw a strengthening in trading of 46% on last month to reach 51,392 contracts. Gold futures sustained increased trading activity throughout October, registering daily volumes of over 2,500 contracts on many trading days. Silver grew 54% on last month to reach 2,526 total contracts while WTI climbed 15% to register volumes of 8,099 contracts in October.
