Dubai Mercantile Exchange Develops Gold Contract

The Dubai Mercantile Exchange plans to develop a gold futures contract this year, rivalling an existing contract in the Gulf emirate, industry sources said on Sunday.

"DME is looking at a number of metals contract, but gold is their priority," a source inside the bourse said.

"The exchange has already started talking to some players in the gold market, but it has not yet developed a platform for the contract."