Market watch: Egypt's gold prices lower on Sunday; stocks unchanged

Ahram Online , Sunday 16 Jul 2023

Gold prices in Egypt fell close to the average level reached in June, while the Egyptian Exchange's (EGX) indices remained almost unchanged from the previous session on Sunday.

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


Stock market

The benchmark index EGX30 remained stable at 17,343 points.

The EGX70 index dropped 0.15% to 3,422.99 points.

The EGX100 closed slightly lower at 5,082.74 points, down 0.03%.

The market capitalization rose by EGP 3 billion on Sunday to reach a total of EGP 1.171 trillion.

Rakta Paper Manufacturing surged 11.31% and was the top gainer on the EGX, closing at EGP 14.56 per share.

Golden Textiles & Clothes Wool was the market's biggest loser on Sunday, dropping 6.01% and closing at EGP 11.27.


Gold prices

24-carat gold fell to EGP 2,485.75, a decrease of EGP 17 per gram.

21-carat gold fell to EGP 2,175, a decrease of EGP 15 per gram.

18-carat gold dropped to EGP 1,864.25, a decrease of EGP 13 per gram.

The price of the gold pound fell by EGP 120 to EGP 17,400.

*Prices reflect updates recorded as of midday.



The official exchange rate for the dollar was stable at a purchase rate of EGP 30.83 and a sale rate of EGP 30.96.

The euro slightly decreased to a purchasing rate of EGP 33.43 but rose to EGP 34.6 for selling.

The Saudi riyal was priced at EGP 8.22 for buying and EGP 8.25 for selling.

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


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