Market watch: Gold prices decline slightly in Egypt on Sunday; bourse ends in green

Ahram Online , Sunday 20 Aug 2023

The price of gold in Egypt edged lower on Sunday while stocks had a positive start of the week with the main index breaking above the 18,000 threshold.

Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.
Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.

 

Gold prices
 

The price of 24-carat gold declined by EGP 57.25 to reach EGP 2,542.75 per gram.

21-carat gold decreased by EGP 50 to hit EGP 2,225 per gram.

18-carat gold price shrank by EGP 42.75 to EGP 1,907.25 per gram.

The price of a pound of gold reached EGP 17,800 on Sunday, EGP 400 lower than Thursday.

*Prices reflect updates recorded as of midday.

 

Stock market
 

The benchmark index EGX30 rose by 0.36 percent to end at 18,033.22 points.

The EGX70 index inched up by 0.35 percent to close at 3,641.45 points.

EGX100 grew by 0.3 percent to close at 5,369.99 points.

Market capitalization lost EGP 7 billion on Sunday to reach EGP 1,222 billion.

The top gainer was Egyptian for Tourism Resorts, after surging 19.87 percent to close at EGP 3.56 per share.

The top loser was Remco for Touristic Villages Construction, after falling 3.84 percent to close at EGP 1.8 per share on Sunday.

 

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 33.52 and sold at EGP 33.66.

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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