Market watch: Gold prices fall on Monday in Egypt; stock market closes positive

Ahram Online , Monday 14 Aug 2023

Gold prices dropped on Monday, after surging over the weekend. The Egyptian Exchange indices ended higher for the second consecutive day.

A worker stands in front of his gold jewellery shop at the market of Khan el-Khalili in Old Cairo (R
A worker stands in front of his gold jewellery shop at the market of Khan el-Khalili in Old Cairo (Reuters)

 

Gold prices
 

The price of 24-carat gold dropped by EGP 80 to reach EGP 2,571.5 per gram.

21-carat gold decreased by EGP 70 to hit EGP 2,250 per gram.

18-carat gold price fell by EGP 60 to EGP 1,928.5 per gram.

The price of a pound of gold reached EGP 18,000 on Monday, EGP 560 lower than on Sunday.

*Prices reflect updates recorded as of midday.

 

Stock market
 

The leading index EGX30 inched higher by 0.23 percent to end at 17,897.5 points.

The EGX70 index increased by 0.99 percent to close at 3,635.21 points.

EGX100 rose by 0.67 percent to close at 5,360.85 points.

Market capitalization gained EGP 2 billion on Monday to reach EGP 1,216 billion.

The top gainer was Sharm Dreams Co. for Tourism Investment for the second day in a row, after surging 19.11 percent to close at EGP 9.4 per share.

The top loser was the General Company For Land Reclamation, Development & Reconstruction. The stock tumbled 4.14 percent to close at nearly EGP 25.02 per share on Monday.
 

Currencies
 

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 33.73 and sold at EGP 33.88.

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.

Short link: