Market watch: Egypt's gold prices continue decline after Eid Al-Adha, stocks in red on Thursday

Ahram Online , Thursday 6 Jul 2023

Gold prices continued their declining trajectory on Thursday, while the Egyptian Exchange ended in the red, with the market cap losing EGP 17 billion.

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 declined by EGP 23 to EGP 2,468.5 per gram.

The 21-carat gold price decreased by EGP 20 to EGP 2,160 per gram.

The per-gram price of 18-carat gold slipped by EGP 17 to EGP 1,851.5 per gram.

The price of the gold pound plunged by EGP 160 to EGP 17,280.

*Prices reflect updates recorded as of midday.


Stock market

EGX30 declined by 1.6 percent to end at 17,102.3 points.

EGX70 dropped by 2.66 percent to 3,474.23 points.

EGX100 tumbled by 2.29 percent to close at 5,146.38 points.

The market cap lost EGP 17 billion on Thursday, reaching around EGP 1.132 trillion.

Top gainer was Saudi Egyptian Investment & Finance, which surged by about 19.26 percent to EGP 56.72.

Top loser was General Silos & Storage, which tumbled 9.14 percent, closing at EGP 85.52.



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

The euro stood at EGP 33.55 for buying and EGP 33.7 for selling.

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


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

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