Gold contracts dominate transaction on ICDX

Petromindo|Khalsa

As transaction on the Indonesia Commodity and Derivatives Exchange (ICDX) continues to rise, gold contracts are seen to increasingly dominate transaction on the bourse, Kontan reported on Saturday.

The paper quoted ICDX President Director Lamon Rutten as saying that gold futures transaction dominated transaction in the bourse as per August of this year.

Out of the total multilateral futures transaction volume of 59,728 lots in August, gold contracts accounted for 14,092 lots. The second most traded contracts is tin.

Lamon said that most of the investors use gold contracts for hedging purposes. (*)