Market watch: Gold rebounds on Sunday; Egypt's stocks end in red

Ahram Online , Sunday 25 Jun 2023

Gold recovered some of its losses on Sunday. In contrast, the Egyptian Exchange ended in the red, with the benchmark shrinking by over 2 percent.

Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.
Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.


Gold prices

The price of 24-carat gold increased by EGP 74.25 to EGP 2,542.75 per gram.

The 21-carat gold price gained EGP 65 to reach EGP 2,225 per gram.

The per-gram price of 18-carat gold increased by EGP 55.75 to stand at EGP 1,907.25 per gram. 1907.25

The gold pound recovered EGP 520 of its value, reaching EGP 17,800.

*Prices reflect updates recorded by midday.

Stock market

EGX30 dropped by 2.4 percent to end at 17,287.64 points.

EGX70 slipped by 0.65 percent to 3,493.31 points.

EGX100 inched slightly lower by 0.86 percent to close at 5,174.62 points.

The market cap declined by EGP 14 billion on Sunday, reaching around EGP 1.150 trillion.

Top gainer was Copper For Commercial Investment & Real Estate Development, which surged by 20 percent to a value of EGP 33.48.

Top loser was Elswedy Electric, which tumbled 5.74 percent, closing at EGP 19.70.



The official exchange rate for the dollar is relatively stable at EGP 30.84 for purchase and  EGP 30.96 for sale.

The euro stood at EGP 33.92 for buying and at EGP 34.06 for selling.

The Saudi riyal's buying price stands at EGP 8.22, and the selling price at EGP 8.25.

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

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