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DMCC postpones launch of spot gold contracts

Dubai Multi Commodities Centre (DMCC) has said it would delay launch of a spot gold contract to the third quarter to ensure that the technical aspects run smoothly, Reuters has reported. The Dubai Gold and Commodities Exchange (DGCX) said in April it would launch the spot contract in June, but the chief executive of DMCC, which hosts the exchange, said a decision was taken to delay the launch. “We don’t want to launch a great contract that technology can’t handle and participants can’t actively participate in, so we took a conscious decision to delay the launch,” Gautam Sashittal said.