DGCX volume zooms to a record 4482 contracts as Gold & Silver prices climb to new multi-year peaks

There was yet another new record set when Silver prices crossed $12/- mark to establish a fresh 22-year peak.

Trading began on a brisk note as DGCX June 2006 gold futures contract opened at $593.50/troy oz. Market activity received a strong boost as the price crossed the crucial $600/- mark. The session recorded a high of $601.50/troy oz. Prices however beat a retreat towards the end of the day to close a shade lower at $599.40/troy oz. The session recorded a net gain of $7.30/troy oz.

The traded volume in respect of DGCX June 2006 expiry contract jumped by nearly 25% in comparison to the previous session's volume. A total of 2629 contracts were traded during the day. The open interest also increased marginally and settled at figure of 874.

Closely following the trend in gold prices, Silver futures also registered a smart rise of 25 cents during the day to establish a new 22-year peak. DGCX July 2006 silver futures contract clocked a record volume of 1853 - highest since the contact began trading on the exchange. Open interest in these however fell by 52 and closed at 445. Prices opened firm at $11.940/troy oz and rose to touch a peak of $12.145/troy oz, before closing the session at $12.080/troy oz.

Bullish sentiments in the precious metals market were aided today by a rising crude oil prices that reached close to $68/barrel mark.