DGCX July 2006 - Market activity report

The total number of gold futures contracts traded on the exchange crossed 250,000-mark in 171 days of trading. The gross traded volume in value terms since inception touched nearly $6 billion during the month. The average daily volume quarter on quarter basis has shown a significant growth of 132% for all traded contracts. Gold futures contract on the same basis recorded a 138% growth.

Gold futures valued at $728.491 million were traded on DGCX in July 2006. 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 July 31, 2006 stood at 517 contracts valued at $10.58 million. The total value of all the futures contracts traded from start upto the month of July 2006 stood at $5.94 billion. Out of the said amount, gold futures worth $5.02 billion, silver futures valued at $0.69 billion and currency contracts worth $0.23 billion were traded.

An average intra-day volatility of $14.23 /troy oz was observed during the month in the near-term gold prices for the August maturity contracts. Closely following the volatility trend in gold futures, daily volatility for the near-term maturity silver contract was also at a lower end - nearly 6.428 cents /troy oz as compared to 33 cents / troy oz registered during June 2006.

DGCX added the following new refiners to its list of Approved Silver Brands for all future delivery months commencing with September 2006:


• AGR Matthey

• Doe Run Peru

• KGHM Polska Miedz SA