DGCX mulls spot gold contract

The Dubai Gold & Commodities Exchange (DGCX) continues to expect high double-digit volume growth rates, cbo Samir Shah told Metal Bulletin.

The exchange sees a spot gold contract as particularly suitable for Dubai, an important global hub for physical gold trading.
“We are exploring a spot contract in Dubai to make it more relevant to the physical gold community and the physical gold trading activity in Dubai,” Shah said.

“It’s an import and re-export centre, so 28% of the world’s gold gets traded out of Dubai,” he said, adding that a lot of this is due to the gold souk, which is the single largest concentration of jewellers anywhere in the world, with...

Published

Shivani Singh

December 31, 2012

06:35 GMT

Singapore