The Dubai Gold and Commodities Exchange (DGCX) said members would be able to trade six forward month gold futures. Gold and silver options contracts would be launched in the first quarter of 2006.
The exchange will initially trade Monday to Friday, from 10 am until 11.30 pm local time (0600 to 1930 GMT). Seven-day trading will start in the first quarter of 2006.
Dubai, a trading port in the United Arab Emirates, has long been a hub for the physical gold industry in the Middle East, India and Pakistan.