Market watch: Gold continues fall, EGX sees mixed results on Wednesday

Ahram Online , Wednesday 7 Jun 2023

The gold’s downward trajectory continued on Wednesday, with 18-carat declining below EGP 2,000 per gram, while the Egyptian stock market had a mixed day.

AI generated photo showing gold bars and stock market charts. Photo: DALL E 2 by Open AI.


Gold prices
  • The price of 24-carat gold dropped by EGP 11.5 to EGP 2,662.75 per gram.

  • The price of 21-carat gold fell by EGP 10 per gram to EGP 2,330.

  • The price of 18-carat gold fell by EGP 8.5 to EGP 1,997.25 per gram.

  • The price of a gold pound dropped by EGP 80 from Tuesday's price to EGP 18,640.

*Prices reflect updates recorded by midday. 

Stock market 
  • EGX30 dropped 0.82 percent and closed at 17347.57 points.

  • EGX70 jumped 2.8 percent and closed at 3,648.26 points.

  • EGX100 rose 1.84 percent to 5,317.64 points.

  • Market cap ended at around EGP 1.129 trillion, down by around EGP 8 billion from Tuesday's EGP 1.137 trillion.

  • Top gainer was Beltone Financial Holding rising 19.90 percent and closing at EGP 4.76.

  • Top loser was Speed Medical falling by 6.65 percent and closing at EGP 0.463.

  • The official market's buying price for the dollar is EGP 30.84, and the selling price is EGP 30.94, with no fluctuations.

  • The euro rose slightly to EGP 33.05 for buying and EGP 33.16 for selling.

  • The Saudi riyal's buying price stands at EGP 8.22, and the selling price at EGP 8.25, with no major changes.

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

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