Marketwatch: Egyptian stocks mixed, gold prices plummet

Ahram Online , Wednesday 10 Jan 2024

The Egyptian Exchange closed on Wednesday with a mixed performance, with a decline of 0.48 percent in the main index and a slight increase in the market cap, gaining EGP 5 billion. Meanwhile, gold prices dropped significantly.

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 went down by 0.48 percent, settling at 25,466 points.

The EGX70 index increased 1.35 percent, ending at 5,890 points and the EGX100 index rose by 1.03 percent, closing at 8,404 points.

Market cap gained around EGP 5 billion to end at EGP 1,775 billion.

The top performer in the market today was Iron and Steel for Mines and Quarries, which surged 20 percent to end at EGP 2.24.

On the other hand, the worst performer was Egyptian Gulf Marseilia for Real Estate Investment, which dropped 6.66 percent to close at EGP 2.005.

Gold purchase prices

The purchase price of 24-carat gold declined by EGP 121 to EGP 3,622 per gram on Wednesday compared to yesterday’s prices.

The 21-carat gold price decreased by EGP 105 to reach EGP 3,170 per gram, and the 18-carat gold price went down by EGP 90 to EGP 2,717 per gram.

The price of the gold pound reached EGP 25,360 for purchase, EGP 840 lower than Tuesday.

*Prices reflect updates recorded as of midday.


The official EGP/USD exchange rate remains stable at EGP 30.8414 for buying and EGP 30.9386 for selling.

The euro is valued at EGP 33.7559 for purchase and EGP 33.8685 for sale.

The Saudi riyal is priced at EGP 8.2235 for buying and EGP 8.2498 for selling.

In the parallel market, the USD reached EGP 54.62 for each pound.

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

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