Marketwatch: EGX ends in loss for 2nd day; 24k gold approaches EGP 3,400/gram

Ahram Online , Wednesday 20 Dec 2023

The Egyptian Exchange (EGX) ended Wednesday in the red, marking the second loss in a row. Gold, on the other hand, soared with the price of the 24-carat gram approaching a new peak of EGP 3,400.

Jewellery store in Egypt. Ahram Gate.
Jewellery store in Egypt. Ahram Gate.


Stock market

The EGX30 index declined by 0.95 percent, settling at 24,837 points.

The EGX70 shrank 0.29 percent to end at 5,410 points; the EGX100 index decreased by 0.47 percent to close at 7,835 points.

The market capitalization lost EGP 10 billion, ending at around EGP 1,687 billion.

Biggest winner for the second session in a row is El Kahera El Watania Investment. The stock soared by 19.93 percent to close at EGP 17.51 per share.

However, the worst performer on the exchange on Wednesday was United Arab Shipping. The stock fell 4.82 percent to EGP 0.711 per share.

Gold purchase prices

The purchase price of 24-carat gold increased by EGP 57 to EGP 3,394 per gram on Tuesday, compared to Monday’s prices.

The 21-carat gold price rose by EGP 50 to reach EGP 2,970 per gram, and the 18-carat gold price went up by EGP 43 to EGP 2,546 per gram.

The price of the gold pound jumped EGP 400 to hit EGP 23,360 for purchase.

*Prices reflect updates recorded as of midday.


The official EGP/USD exchange rate remains stable at EGP 30.8277 for buying and EGP 30.9586 for selling.

The euro is valued at EGP 33.7132 for purchase and EGP 33.8687 for sale.

The Saudi riyal is priced at EGP 8.2166 for buying and EGP 8.2519 for selling.

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

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