Market watch: Gold loses nearly EGP 100 on Tuesday; EGX ends in green

Ahram Online , Tuesday 23 May 2023

Gold prices declined by over EGP 96 during midday trading on Tuesday, while the Egyptian Exchange saw a positive performance, supported by the sale of 22.3 million shares in the Housing and Development Bank.

gold and US dollar bills.
gold and US dollar bills. (iStock).

 

Gold prices


- The 24 karat per-gram price stood at EGP 2,731.5, down from EGP 2,828 yesterday, losing EGP 96.5.
- The 21 karat per-gram hit EGP 2,390.
- The 18 karat per-gram price reached EGP 2,048.5.
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The gold pound was priced at EGP 19,120.

*Prices reflect updates recorded by midday.

 

Stock market


- EGX30 rose by 0.14 percent to end at 16787.71 points.
- EGX70 jumped 1.87 percent to stand at 3066.05 points.
- EGX100 gained 1.42 percent to reach 4609.12 points.
- Market cap rose by nearly EGP 4 billion, ending at around EGP 1.09 trillion.

Top gainer in the market was the Egyptian Company for Construction Development-Lift Slab after rising by 16.27 percent to close at EGP 0.24.
Top loser was Egyptian International Pharmaceuticals (EIPICO), with a decline of 3.08 percent, ending at EGP 24.9.

 

Currencies


- The dollar remains stable in the official market, trading at EGP 30.83 for purchase and EGP 30.95 for sale.
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The euro inched up to EGP 33.35 for purchase and EGP 33.5 for sale.
-
The Saudi riyal moves slightly up 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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