Tuesday 19 May 2009

Dubai Gold Securities sees record turnover

Trading in Dubai Gold Securities (DGS) on Nasdaq Dubai has clocked a record 460 per cent jump in volume so far this month.

The number of DGS contracts has risen to 12,589 with a value of $1.15 million (Dh4.2m) in May – higher than March (6,865 contracts) and April (2,246 contracts) put together. DGS was listed on March 2 this year.

"We are pleased to see growing interest in DGS from investors as they become more familiar with the product, especially those seeking a Shariah-compliant opportunity," said a Nasdaq Dubai spokesman. "DGS is the only gold-backed security on any GCC stock exchange and it can be bought and sold through a broker just like shares."

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