Market watch: Gold loses nearly EGP 100 on Tuesday; EGX ends in green

Ahram Online , Tuesday 23 May 2023

Gold prices declined by over EGP 96 during midday trading on Tuesday, while the Egyptian Exchange saw a positive performance, supported by the sale of 22.3 million shares in the Housing and Development Bank.

gold and US dollar bills.
gold and US dollar bills. (iStock).


Gold prices

- The 24 karat per-gram price stood at EGP 2,731.5, down from EGP 2,828 yesterday, losing EGP 96.5.
- The 21 karat per-gram hit EGP 2,390.
- The 18 karat per-gram price reached EGP 2,048.5.
The gold pound was priced at EGP 19,120.

*Prices reflect updates recorded by midday.


Stock market

- EGX30 rose by 0.14 percent to end at 16787.71 points.
- EGX70 jumped 1.87 percent to stand at 3066.05 points.
- EGX100 gained 1.42 percent to reach 4609.12 points.
- Market cap rose by nearly EGP 4 billion, ending at around EGP 1.09 trillion.

Top gainer in the market was the Egyptian Company for Construction Development-Lift Slab after rising by 16.27 percent to close at EGP 0.24.
Top loser was Egyptian International Pharmaceuticals (EIPICO), with a decline of 3.08 percent, ending at EGP 24.9.



- The dollar remains stable in the official market, trading at EGP 30.83 for purchase and EGP 30.95 for sale.
The euro inched up to EGP 33.35 for purchase and EGP 33.5 for sale.
The Saudi riyal moves slightly up EGP 8.22 for purchase and EGP 8.25 for sale.


Sources: The Central Bank of Egypt's official exchange rates, the Egyptian Stock Exchange, and iSagha.

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