Market watch: Gold pound jumps over EGP 1,200 on Sunday; Stocks edge higher

Ahram Online , Sunday 13 Aug 2023

Gold prices surged by an average of EGP 160 on Sunday, compared to last week's levels. The gold coin soared by over EGP 1,200. The Egyptian Exchange (EGX) ended in the green territory.

File Photo: A shop window of jewellery store in one of the streets of Cairo, Egypt. Al-Ahram
File Photo: A shop window of a jewellery store in one of the streets of Cairo, Egypt. Al-Ahram

 

Gold prices

The price of 24-carat gold surged by EGP 177.25 to reach EGP 2,651.5 per gram.

21-carat gold increased by EGP 155 to hit EGP 2,320 per gram.

18-carat gold leapt by EGP 145.75 to EGP 1,988.5 per gram.

The price of a pound of gold reached EGP 18,560 on Sunday, EGP 1,240 higher than on Thursday.

*Prices reflect updates recorded as of midday.

Stock market

The leading index EGX30 inched higher by 0.82 percent to end at 17,856.07 points.

The EGX70 index increased by 0.55 percent to close at 3,599.46 points.

EGX100 rose by 0.72 percent to close at 5,324.93 points.

Market capitalization gained EGP 12 billion on Sunday to reach EGP 1,214 billion.

The top gainer was Sharm Dreams Co. for Tourism Investment, which surged 19.88 percent to close at EGP 7.9 per share.

The top loser was Delta Construction & Rebuilding after falling 13.88 percent to close at nearly EGP 19.18 per share.

Currencies

The official dollar exchange rate was stable, with a buy rate of EGP 30.83 and a sell rate of EGP 30.96.

The euro was bought at EGP 33.74 and sold at EGP 33.89.

The Saudi riyal was priced at EGP 8.22 to buy and EGP 8.25 to sell.

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

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