Silver Prices Rise 2% in Egypt and 3.6% Globally Over the Past Week

Silver prices in the Egyptian market rose by approximately 2% over the past week, in line with a 3.6% increase in global silver prices, supported by stronger investment demand, a persistent global supply deficit, and robust industrial consumption.

The price of 999 fine silver increased by around EGP 2 per gram, opening the week at EGP 98, reaching an intraday high of EGP 101, and closing at approximately EGP 100 per gram.

Meanwhile, 925 sterling silver traded at around EGP 93 per gram, while 800 silver reached approximately EGP 80 per gram. The Egyptian silver pound coin, weighing eight grams of 925 silver, traded at about EGP 744.

In international markets, silver gained approximately US$2 per ounce during the week, rising from US$56 at the beginning of the week to around US$58 at the close, representing a weekly increase of 3.6%.

Year-to-Date Performance

Silver opened 2026 at approximately US$72 per ounce and currently trades near US$58, leaving the metal down roughly 19.4% since the beginning of the year despite this week's recovery.

In Egypt, 999 fine silver opened the year at around EGP 125 per gram and currently trades near EGP 100, representing a decline of approximately 20% year-to-date.

Correction Following the Historic Peak

Silver experienced an extraordinary rally in January, climbing from US$72 at the beginning of the year to a record high of US$121.64 per ounce on 29 January, driven by strong investment inflows, supply concerns and speculative trading activity.

Following this exceptional surge, prices entered a broad correction as investors took profits and reduced speculative positions. The relatively small size of the silver market compared with gold has amplified price volatility.

Despite the recent rebound, silver still trades more than 52% below its all-time high. Likewise, Egypt's 999 fine silver price remains over 52% below its record level of EGP 210 per gram.

Investment and Industrial Demand Continue to Support Prices

The latest weekly gains were supported by renewed investor demand amid ongoing global economic uncertainty and a structural supply deficit that is expected to persist for a sixth consecutive year.

Industrial demand also remains a key pillar for silver prices, particularly from the solar energy, electronics, semiconductor and electric vehicle industries, all of which continue to expand as part of the global transition toward clean energy and advanced technologies.

A weaker US dollar during parts of the week, together with continued geopolitical uncertainty and volatility in energy markets, further boosted demand for precious metals.

Silver Remains More Volatile Than Gold

Silver generally follows the same long-term trend as gold but exhibits significantly higher price volatility because of its relatively smaller market size. As a result, capital flows and speculative activity tend to produce larger gains and sharper declines than those typically seen in the gold market.

Investors also closely monitor the Gold/Silver Ratio, one of the most widely followed indicators of the relative performance of the two precious metals. A declining ratio generally indicates stronger silver performance relative to gold, while a rising ratio reflects increased demand for gold as the preferred safe-haven asset.

Egyptian Prices Continue to Trade Above Theoretical Value

Based on an international silver price of approximately US$58 per ounce and an exchange rate of EGP 51.42 per US dollar, the theoretical value of 999 fine silver is estimated at around EGP 96 per gram, compared with a domestic market price of approximately EGP 100.

The premium of roughly EGP 4 per gram reflects import costs, manufacturing expenses, distribution costs and domestic supply-and-demand conditions.

Domestic silver prices are therefore determined by a combination of international silver prices, the Egyptian pound's exchange rate against the US dollar and local market premiums, rather than by global prices alone.

International Outlook Remains Positive

International institutions continue to maintain a constructive outlook for silver as the market faces ongoing supply shortages and resilient industrial demand.

The London Bullion Market Association (LBMA) forecasts an average silver price of approximately US$79.6 per ounce during 2026, while several global financial institutions believe prices could move higher should the supply deficit persist.

The Silver Institute also expects the global silver market to record its sixth consecutive annual supply deficit, supported by continued demand from the technology and clean-energy sectors.

Silver continues to benefit from strong long-term fundamentals despite heightened price volatility. Market performance over the coming weeks is expected to depend primarily on three factors: the direction of US monetary policy, movements in the US dollar and Treasury yields, and the evolution of the global silver supply deficit.

A weaker US dollar or signs of monetary easing could provide further support for silver prices, while continued monetary tightening may trigger short-term corrections without fundamentally altering the medium-term positive outlook for the metal.