Market Watch: Trading in EGX temporarily suspended on Monday, gold continues decline

Ahram Online , Monday 12 Jun 2023

A technical glitch caused a temporary suspension in trading on the Egyptian Exchange (EGX) on Monday, but transactions will return to normal on Tuesday, while gold prices dropped after stabilizing.

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Gold prices

The price of 24-carat gold was down on Monday by EGP 5.75 to EGP 2,628.5 per gram.
The price of 21-carat gold declined by EGP 5 to EGP 2,300 per gram.
The price of 18-carat gold edged lower by  EGP 4.25 to EGP 1,971.5 per gram.
The price of the gold pound was down by EGP 40 on Monday to  EGP 18,400.

*Prices reflect updates recorded by midday.

Stock market 

Until the suspension of trading by midsession due to a glitch in the trading system, the benchmark, EGX was down by 0.2 percent, standing at 17,704.58 points, while the EGX70 and EGX100 indices dropped 1.62 percent and 1.05 percent, respectively.

The official market's buying price for the dollar is EGP 30.84, and the selling price is EGP 30.94, with no major fluctuations.
The euro rose slightly to EGP 33.21 for buying and around EGP 33.32 for selling.
The Saudi riyal's buying price stands at EGP 8.22, and the selling price at EGP 8.25.

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

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