Market watch: Gold prices rise on Thursday in Egypt; bourse indices decline

Ahram Online , Thursday 10 Aug 2023

Gold prices increased on Thursday by an average of EGP 15 for all carats after a week of fluctuations. The Egyptian Exchange (EGX) ended in the red territory.

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


Gold prices

The price of 24-carat gold rose by EGP 17 to reach EGP 2,474.25 per gram.

21-carat gold increased by EGP 15 to hit EGP 2,165 per gram.

18-carat gold inched up by EGP 13 to EGP 1,842.75 per gram.

The price of a pound of gold reached EGP 17,320, EGP 120 higher than on Wednesday.

*Prices reflect updates recorded as of midday.


Stock market

The leading index EGX30 edged lower by 0.3 percent to end at 17,710.2 points.

The EGX70 index declined by 0.35 percent to close at 3,579.7 points.

EGX100 shrank by 0.46 percent to close at 5,287.1 points.

Market capitalization lost EGP 3 billion on Thursday to reach EGP 1,202 billion.

The top gainer was Housing & Development Bank, which surged 10.72 percent to close at EGP 22 per share.

The top loser was Arab Aluminum after falling four percent to close at nearly EGP 68.4 per share.



The official dollar exchange rate was stable, with a buy rate of EGP 30.83 and a sell rate of EGP 30.96.

The euro was bought at EGP 33.99 and sold at EGP 34.15.

The Saudi riyal was priced at EGP 8.22 to buy and EGP 8.25 to sell.

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

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