Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

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