African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...

25 may 2020

Sustainability is the only way forward - Rahul Jauhari

Rahul Jauhari, Sr Vice President of Global Sales & Marketing, Star Rays, has forged ahead professionally for more than 14 years garnering experience in Business Development, Luxury Lifestyle Consultancy, Market Analysis, Global Fashion / Luxury trend...

18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

DGCX records highest ever quarterly volumes

02 october 2019

The Dubai Gold and Commodities Exchange (DGCX) has continued its record-breaking performance this year, registering its best quarter since inception with over 7.98 million contracts traded in the third quarter of 2019, with over 2.37 million contracts traded in September, valued at USD 41 billion. 
The Exchange also recorded a monthly Average Open Interest (AOI) of 410,847 contracts in September, its highest AOI since September 2016. Average Daily Volumes (ADV) in September reached 112,988 per day, up 20% year-on-year (Y-O-Y).
 Last month’s success was primarily driven by the DGCX’s Indian Rupee (INR) product suite. Building on its record successes in August, the INR Quanto Futures contract was the standout performer once again, with the index pricing of the Indian Rupee US dollar currency pair concluding last quarter from July to September with more than 3.78 million contracts traded. INR Mini Futures also performed strongly, registering its highest ever monthly AOI of 122,003 contracts.
DGCX also recorded a sharp uptake in its Energy portfolio last month, with Brent Crude Oil Futures and West Texas Intermediary (WTI) Futures recording Y-O-Y growth of 154% and 121% respectively. Meanwhile, the Exchange’s flagship Gold Futures product in September recorded month-on-month (M-O-M) average daily volume growth (ADV) of 12%.
Les Male, CEO of DGCX, commented: “DGCX’s recent record volume growth and open interest records reflect the strength and depth of our offerings and increased investor confidence in the Exchange. Last month’s achievements were driven by ongoing geopolitical instability, including continued uncertainty surrounding Brexit and the US and China trade war. Moving into the last quarter of the year, we will continue to focus on growing our membership base and expanding our footprint, and we are optimistic that we will keep our momentum going, enabling an increasing number of investors to hedge their risks during periods of volatility.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished