Consumers attracted to diamond jewelry more than ever

Ali Pastorini is the co-owner of Del Lima Jewelry and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

21 september 2020

WDC actively supports initiatives from mine to retail; and also strives for support for the artisanal and small-scale miners - Edward Asscher, President, World Diamond Council

A member of one of the diamond industry and Amsterdam’s most well-known families, Edward Asscher was elected President of the World Diamond Council in June 2020 for a two-year term. Asscher is serving a second time as WDC President, having led the organization...

14 september 2020

Diamonds are one of the few things that have held human fascination in every nook and cranny of the world across time

Dr Usha R. Balakrishnan, a preeminent historian of Indian jewellery based in Mumbai, is Chief Curator of the World Diamond Museum. Being the author and co-author of several volumes of Diamonds Across Time, a new book and an important venture launched...

11 september 2020

Botswana Diamonds to bulk sample KX36 kimberlite, sees commercial potential

Botswana Diamonds recently acquired Petra Diamonds’ exploration assets in Botswana for $300000. The assets that were owned by Petra through its wholly-owned Sekaka Diamonds Exploration, include the KX36 project, a 3.5 hectare kimberlite that was a new...

07 september 2020

Indian diamond industry looks for recovery options

Webinars being the order of the day due to COVID-19 crisis, the Gem & Jewellery Export Promotion Council (GJEPC) of India organized a virtual meeting under its UNCUT 2020 Webinar series on 17 August 2020, inviting all stakeholders to discuss...

31 august 2020

DGCX starts 2020 with Gold Futures registering Best Month of trading since July 2008

07 february 2020

The Dubai Gold & Commodities Exchange (DGCX) has started 2020 strongly, with its flagship Gold Futures product in January recording its best month of trading since July 2008. The product recorded month-on-month (M-O-M) volume growth of 66.25%, and year-on-year (Y-O-Y) volume growth of 515%, as increasing geopolitical tensions across the globe drove investors towards safe-haven assets. The DGCX’s West Texas Intermediary (WTI) Futures also underpinned trading last month, registering M-O-M volume growth of 18.26%. 

news_07022020_futures.png
Image credit: geralt (Pixabay)

Another indicator of the Exchange’s promising start to the year was its monthly Average Open Interest (AOI) in January, which registered 366,481 contracts, up from 314,729 contracts in December last year. AOI in 2019 overall was 324,803, its highest yearly AOI ever.
Les Male, CEO of DGCX, commented: “We are immensely proud of the growth we experienced last year, and are delighted that we have continued our trajectory into 2020 with robust trading across the board, particularly in our flagship Gold Futures product. January’s strong performance against a volatile backdrop indicates a positive outlook for the upcoming year, as we look forward to further consolidating our position as the largest and most diversified bourse in the Middle East, and providing our members and participants with a wider range of products to safely hedge their risk.”
The DGCX’s G6 currency portfolio was another driver of trading last month, registering a 419% Y-O-Y volume increase. Among the currency pairs, the Australian Dollar (AUD) was the most prominent, registering its best month of trading since June 2010.

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