Market watch: Gold pound jumps to over EGP 18,000 in Egypt on Thursday; bourse ends flat

Ahram Online , Thursday 17 Aug 2023

Gold prices jump on Thursday, at the end of a week of fluctuations, while the Egyptian Exchange (EGX) indices ended near their levels in Wednesday's session, where the main index reached a record level.

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.


Gold prices

The price of 24-carat gold rose by EGP 74.25 to reach EGP 2,600 per gram.

21-carat gold increased by EGP 65 to hit EGP 2,275 per gram.

18-carat gold price grew by EGP 44.25 to EGP 1,950 per gram.

The price of a pound of gold reached EGP 18,200 on Thursday, EGP 520 higher than Wednesday.

*Prices reflect updates recorded as of midday.

*Development of 24-carat gold per-gram prices in a month. Egyptian Exchange.

Stock market

The benchmark index EGX30 declined by 0.52 percent to end at 17,969.27 points.

The EGX70 index, on the other hand, inched up by 0.1 percent to close at 3,628.76 points.

EGX100 slipped by 0.2 percent to close at 5,353.76 points.

Market capitalization lost EGP 6 billion on Thursday to reach EGP 1,219 billion.

The top gainer was Lecico Egypt, after surging 19.31 percent to close at EGP 10.44 per share.

The top loser was Juhayna Food Industries, after falling 7.98 percent to close at EGP 15.68 per share on Thursday.


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 33.56 and sold at EGP 33.69.

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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