Dubai Gold and Commodities Exchange (DGCX) has reported a strong performance in the first half of 2025, with over 1 million contracts traded by the end of June, representing a 30 percent year-on-year increase in average daily volumes. This notable performance underscores the growing demand for hedging instruments in the face of global market volatility, with gold contracts and the INR Quanto product driving increased trading activity.
The highlight of this period was DGCX’s Shariah-compliant Gold Spot Contract (DGSG), which saw the trade value surge from $15.6 million in H1 2024 to $46.8 million in H1 2025 – an astonishing 199.84 percent year-on-year increase. In terms of volume, DGSG contracts experienced a rise of 118 percent over the past twelve months.
The INR Quanto futures contract, a synthetic instrument allowing global market participants to hedge Indian rupee exposure against the US dollar without needing access to the underlying Indian markets, continued to garner significant trading interest. This increasing popularity highlights its role as a crucial regional risk management tool amid ongoing fluctuations in the foreign exchange market.
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Record trading volumes
Ahmed Bin Sulayem, chairman and chief executive officer of DGCX, stated: “DGCX has seen exceptional momentum in the first half of the year, with nearly $47 million traded through our spot gold contract alone – a 200 percent year-on-year increase – and a 30 percent rise in daily volumes across the exchange driven by demand for DGSG and INR Quanto futures. This performance not only places DGCX firmly on course to surpass its 2024 results but reinforces its role as a critical pillar in the region’s financial infrastructure. As global market conditions grow more complex, the exchange’s rising adoption by Shariah-based investors, bullion traders, and institutional participants alike highlights the growing demand and broad appeal for sophisticated, secure, and transparent hedging tools – a position we expect will get stronger as we continue to reinforce Dubai’s standing as a world-class centre for commodities and derivatives trading.”
As part of DMCC’s dedicated support for the precious metals industry, DGCX plays a pivotal role in establishing Dubai’s reputation as one of the world’s largest trading hubs for gold. With over 1,500 member companies operating in the gold and precious metals sector within DMCC, the exchange enhances the international district’s broader offering in physical and financial trading infrastructure.
The strong performance in H1 2025 builds upon DGCX’s full-year results from 2024, which saw 1.56 million contracts traded with a notional value exceeding $37 billion. The exchange is well-positioned to exceed that figure in 2025, further solidifying its status as the region’s leading derivatives marketplace.
