Market watch: Gold continues losses on Wednesday; Euro inches down

Ahram Online , Wednesday 24 May 2023

Gold prices declined on Wednesday's midday tradings, continuing a downturn that started on Tuesday, while the Egyptian pound rose by nearly 14 piastres against the Euro.

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 24 karat per-gram price stood at EGP 2714.25, down from EGP 2731.5 yesterday, losing around EGP 17.

- The 21 karat hit EGP 2375 per gram.

- The 18 karat per-gram price reached EGP 2035.75.

- The gold pound was priced at EGP 19000.

*Prices reflect updates recorded by midday.

Stock market

- EGX30 rose by 1.8 percent to end at 17090.56 points.

- EGX70 increased by 0.61 percent to stand at 3084.69 points.

- EGX100 inched up 0.89 percent to close at 4649.94 points.

- Market cap surged by about EGP 16.8 billion to end at around EGP 1.1 trillion.

- Top gainer in the market was North Cairo Mills after rising by 13.32 percent to close at EGP 40.24.

- Top loser was Copper For Commercial Investment & Real Estate Development, with a decline of 7.36 percent, ending at EGP 17.

Currencies

- The dollar remains stable in the official market, trading at EGP 30.82 for purchase and EGP 30.95 for sale.

- The euro slipped to EGP 33.21 for purchase and EGP 33.36 for sale.

- The Saudi riyal stabilized at EGP 8.22 for purchase and EGP 8.25 for sale.

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

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