Market watch: Gold prices decline on Thursday; Egypt's stock market remains stable

Ahram Online , Thursday 25 May 2023

Gold prices took a 2.7 percent downturn on Thursday, as the Egyptian Exchange's benchmark stabilizes over 17,000 points.

Jewellery store in Egypt.
Jewellery store in Egypt. (Ahram Online)


Gold prices

- The 24 karat per-gram price reached EGP 2,640 on Thursday, a 2.7 percent decline from Wednesday.

- The 21 karat decreased by 2.7 percent to stand at EGP 2,310 per gram.

- The 18 karat per-gram price also slipped 2.7 percent to record EGP 1,980.

- The gold pound was priced at EGP 18,480 on mid-Thursday, down from EGP 19,000 on Wednesday.

*Prices reflect updates recorded by midday.

Stock market

- EGX30 inched down by 0.2 percent to end at 17043.62 points.

- EGX70 edged higher by 0.5 percent to stand at 3101.92 points.

- EGX100 increased slightly by 0.33 percent to close at 4665.57 points.

- Market cap stabilized at nearly EGP 1.1 trillion.

- Top gainer in the market was Medical Packaging Company after surging by 20 percent to close at EGP 0.9.

- Top loser was North Cairo Mills, with a decline of 5.72 percent, ending at EGP 37.9.


- 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 33.15 for purchase and EGP 33.29 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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