Trading activity at DGCX witnessed a substantial jump of nearly 35% in the month of August as investors returned to the markets after the summer vacations. A total of 77,043 contracts valued at $3.66 billion were traded for the month of August. Gold futures traded on the Exchange were 20% over the previous month while the total number of currency contracts leapt by nearly 74%.
Of the total traded volume (77,043 contracts), gold futures led the table with a contribution of 48,780. A strong trading interest was also witnessed in the currency futures segment at DGCX, which registered a volume of 27,486 contracts for the month. The British pound contract was the primary contributor in the forex segment, accounting for a volume of 24,028 contracts. Following the recent changes in the contract specifications, silver futures have attracted new interest.
Graph showing growth in volumes at DGCX:
Total open interest in respect of gold futures i.e. the number of contracts executed (bought or sold) but not closed out by the participants, as on August 31, 2007 stood at 2,464 contracts. A higher average intra-day volatility of $8.33/troy oz was observed during the month in the near-term gold futures contract as against $7.02 /troy oz recorded during July 2007.
The table given below shows the price movement of some of the contracts traded during the month of August 2007.