Gold Futures

Gold Futures

Dubai has a longstanding history and an established trade in precious metals. DGCX launched its trading operations with the DGCX gold futures contract. The gold futures contract is based on 1 kilogram of gold (0.995 fineness) which is deliverable at DGCX approved vaults in the United Arab Emirates (UAE).

Product Specification


Trading
Symbol DG
Contract Size 32 troy ounces. (1 kg)
Quality Specification 0.995 purity, as per Dubai Good Delivery Standard
Trading Months Feb, Apr, Jun, Aug, Oct and Dec
Last Trading Day Third last business day of the month preceding the Delivery Month
New Contract Listing Business day immediately following last trading day
Price Quote US$ per troy ounce
Tick Size US$ 0.10 (US $ 3.2 per contract)
Price Movement Limit US$ 20 - Note 1*
Max Order Size 200 contracts
Trading Days Monday through to燜riday
Trading Hours 07:00 - 23:30 Hours Dubai time (GMT+4)
Wholesale Trades EFS, EFP, Block trade facilities available

Note 1*: If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period

Margin

Margins
Minimum Initial Margin based on SPAN US$ 1,500 per contract ( Subject to change)
Calendar Spread Position Margin Depending upon each class of asset, spread position margin (Calendar spread margin) is charged using the SPAN framework. In case of Gold, 100% benefit is offered on calendar spread margins.
Extra Margin In time of high volatility, an extra margin as deemed fit by the Exchange may be imposed on all open positions
Delivery Period Margin Five (5) times of the Initial Margins

Delivery Related Information


Delivery related information
Delivery Unit 1 Kg (31.99 troy ounces)
Deliverable Weight 1 Kilogram cast in one bar
Deliverable Quality 0.995 fineness
Approved CMI / Assayers Names as listed on the DGCX website
Approved Refiners Names as listed on the DGCX website
Approved Vaults Names as listed on the DGCX website
Delivery Period First day of the delivery month
Notice Day Last Day of trading of the Delivery Month
Delivery Process The Matching of Buyers and Sellers for Gold delivery will be completed on a time priority basis upon receipt of their Tender/ Delivery Notices
Vault charges Rates applicable as published on the DGCX website
Delivery Instrument Dubai Gold Receipt (i.e. Standard DGR along with validated Refiner’s certificate or CMI-Certified DGR only)
Option for Cash Settlement Open Positions that have not been closed out on the Last Day of Trading are subject to cash settlement as per gold cash settlement price declared by the Exchange

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