Market watch: EGX rebounds on Monday; gold prices hit all-time high

Ahram Online , Monday 25 Dec 2023

The Egyptian Exchange (EGX) indices rebounded on Monday after starting the week in the red territory, while gold prices continued to rise breaking new levels.

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


Stock market

The EGX30 index rose by 1.7 percent, settling at 24,226 points.

The EGX70 index increased by 0.65 percent, ending at 5,348 points; the EGX100 index grew by 0.68 percent, closing at 7,691 points.

The market capitalization gained EGP 16 billion, ending at around EGP 1,664 billion.

The Egyptian Modern Education Systems was the biggest winner in the market for the second session in a row. The stock soared 19.77 percent to close at EGP 0.418 per share.

However, the worst performer in the market today was National Housing for Professional Syndicates. The stock fell 20.41 percent to EGP 37.05 per share.

Gold purchase prices

The purchase price of 24-carat gold surged by EGP 91 to EGP 3,577 per gram on Monday, compared to Sunday’s prices.

The 21-carat gold price rose by EGP 80 to reach EGP 3,130 per gram, and the 18-carat gold price went up by EGP 69 to EGP 2,683 per gram.

The price of the gold pound jumped EGP 640 to hit EGP 24,040 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 33.9506 for purchase and EGP 34.1071 for sale.

The Saudi riyal is priced at EGP 8.2181 for buying and EGP 8.2539 for selling.

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

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