Market watch: Egypt’s bourse commences week with gains; gold prices rise

Ahram Online , Sunday 31 Dec 2023

The Egyptian Exchange (EGX), started the week on a positive note, with all indices closing in the green. Simultaneously, gold prices witnessed an upward trend, with the price of 24-carat gold peaking at EGP 3,617 per gram.

AI generated photo showing gold coins and USD notes. Photo: DALL E 2 by Open AI.
AI generated photo showing gold coins and USD notes. Photo: DALL E 2 by Open AI.

Stock market

The EGX30 index rose by 0.82 percent, settling at 24,894 points.

Similarly, the EGX70 index saw a 0.19 percent increase, concluding the first session of the week at 5,462 points. The EGX100 index surged by 0.34 percent, reaching 7,880 points.

Among the noteworthy performers during Sunday's session, Ismailia Misr Poultry emerged as the biggest winner, with its stock soaring by 12.09 percent, closing at EGP 12.79 per share.

Conversely, MM Group for Industry and International Trade experienced a decline of 5.42 percent, with its stock falling to EGP 6.81 per share, making it the worst performer on the exchange for the day.

Gold purchase prices


The purchase price of 24-carat gold increased by EGP 74 to EGP 3,617 per gram on Sunday, compared to Thursday’s prices.

The 21-carat gold price rose by EGP 65 to reach EGP 3,165 per gram, and the 18-carat gold price went up by EGP 55 to EGP 2,712 per gram.

The price of the gold pound jumped EGP 520 to hit EGP 25,320 for purchase.

*Prices reflect updates recorded as of midday.


The official EGP/USD exchange rate remains stable at EGP 30.8414 for buying and EGP 30.9386 for selling.

The euro is valued at EGP 34.0366 for purchase and EGP 34.1500 for sale.

The Saudi riyal is priced at EGP 8.2239 for buying and EGP 8.2507 for selling.

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

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