Market watch: Gold prices rebound in Egypt; stocks dip on Monday

Ahram Online , Monday 22 May 2023

The Egyptian Exchange ended in the red on Monday, while gold kept recovering following a sharp decline last week.

Gold bars and stock charts.
AI generated photo showing gold bars and stock charts. Photo: DALL E 2 by Open AI



- The dollar remains stable in the official market, trading at EGP 30.83 for purchase and EGP 30.95 for sale.
- The euro maintains at EGP 33.31 for purchase and EGP 33.45 for sale.
- The Saudi riyal stabilises at EGP 8.21 for purchase and EGP 8.26 for sale.


Stock market

- EGX30 declined by 0.57 percent to end at 16764.41 points.
- EGX70 rose by 0.44 percent to stand at 3009.86 points.
- EGX100 inched down 0.02 percent to reach 4544.49 points.
- Market cap lost EGP 7.6 billion to end at around EGP 1.08 trillion.

Top gainer in the market was Belton Financial after rising by 12.39 percent to close at EGP 3.9.
Top loser was EL Ezz Aldekhela Steel – Alexandria, with a decline of 10.26 percent, ending at EGP 833.3.

Gold prices

- The 24 karat rose by EGP 28.5 per gram to around EGP 2,828.
- The 21 karat increased by EGP 25 to EGP 2,475
- The 18 karat gained EGP 21.5 to EGP 2,121.
- The gold pound rose by EGP 200 to EGP 19,800.

*Prices reflect updates recorded by midday.


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

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