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Dubai exchange may launch gold contract for retail investors

Sunday, April 9, 2017 11:09
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(Before It's News) / From Reuters / Saturday, April 8, 2017

The Dubai Gold and Commodities Exchange said today it was considering whether to launch a new spot gold contract designed to be used by retail investors and traders.

The DGCX signed a memorandum of understanding with the Dubai Multi Commodities Centre, a body that facilitates commodity trade flows through Dubai, and National Bank of Ras Al Khaimah (Rakbank) to develop bullion products such as the proposed retail spot gold contract.

The contract could be smaller in size than the existing DGCX Spot Gold contract, which requires physical delivery of 1 kilogramme gold bars and has been used by several institutional investors since its launch in 2016, the exchange said.

The retail contract would be fully backed by physical gold and held in electronic form with the option of physical redemption. This would attract a wider pool of investors and appeal to smaller, more risk-averse traders based in the region, the exchange said. …


The post Dubai exchange may launch gold contract for retail investors appeared first on Silver For The People.


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