Market watch: Gold, stocks suffer negative performance on Wednesday

Ahram Online , Wednesday 31 May 2023

Both the gold and stock markets saw negative performance on Wednesday; the gold pound lost EGP 80 of its value while the bourse's benchmark incurred a slight decrease of 0.22 percent.

Gold coins and USD notes.
AI generated photo showing gold coins and USD notes. Photo: DALL E 2 by Open AI.


Gold prices
- The 24 karat per-gram price declined by EGP 11.5 to EGP 2640.

- The 21 karat decreased by EGP 10 per gram to reach EGP 2310.

- The 18 karat per-gram price slipped by EGP 8.5 to EGP 1980.

- The gold pound was priced at EGP 18,480, EGP 80 lower than Tuesday's price.

*Prices reflect updates recorded by midday.

Stock market
- EGX30 inched lower 0.22 percent to close at 17,495.77 points.

- EGX70 slipped 0.43 percent to end at 3,249.99 points.

- EGX100 declined by 0.49 percent to hit 4,875.07 points.

- Market cap lost nearly EGP 1 billion to close at EGP 1.137 trillion on Wednesday, up from EGP 1.138 trillion on Tuesday.

Top gainer in the market was Misr Duty Free Shops after rising by 19.91 percent to close at EGP 15.96.

Top loser was Cairo Oils & Soap, with a 6.77 percent decline, ending at EGP 0.179.

- The dollar remains stable in the official market, trading at EGP 30.83 for purchase and EGP 30.95 for sale.

- The euro edged slightly higher to EGP 33.01 for purchase and EGP 33.23 for sale.

- The Saudi riyal stabilized at 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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