Thursday, 18th August 2005 (2572 views)

Members of the gold industry are increasingly turning to the internet to conduct business.

The Dubai Gold and Commodities Exchange (DGCX) is an electronic commodities derivatives exchange, which facilitates gold and other commodities trading.

It has announced the receipt of more than 230 membership applications since it offered broker membership and precious metals trade membership two months ago.

DGCX’s chief executive, Framroze Pochara, said: "This is an overwhelmingly positive response from the marketplace and vindicates the business model that DGCX has developed."

Gold will be the first metal traded before the online site also moves into commodities such as silver, steel and cotton

The system will go live in November and forms the latest addition to online gold trading as already practised by companies such as e-gold.



© Adfero Ltd

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.