Silver prices recorded a notable increase in local markets and on global exchanges during Monday’s trading session, driven by rising demand for precious metals amid escalating geopolitical tensions between the United States and Venezuela, according to a report issued by the Safe Haven Center.
The report noted that silver prices climbed in the local market, with the price of 999-purity silver rising from EGP 125 to EGP 128 per gram. The price of 925-purity silver reached around EGP 119 per gram, while 800-purity silver stood at approximately EGP 102 per gram. The price of a silver pound approached EGP 952.
Globally, silver prices rose on international exchanges, with the ounce increasing from $72 to about $76.30.
Silver prices in the local market had come under pressure during last week’s trading, declining by 4.6%, as the price of 999-purity silver fell from EGP 131 to EGP 125 per gram. Globally, silver prices dropped by 9%, sliding from $79.27 to $72 per ounce.
Despite this weekly decline, silver posted strong gains throughout 2025. Local prices surged by 145%, an increase of EGP 74, while global prices jumped by 148%, up roughly $43 per ounce.
The report indicated that silver’s rise at the start of the week was fueled by a sharp increase in demand for safe-haven assets, following U.S. military intervention against Venezuela over the weekend.
Markets reacted to an announcement by U.S. President Donald Trump regarding the arrest of Venezuelan President Nicolás Maduro and his wife, their deportation from the country ahead of appearing before a federal court, along with Washington’s warnings that further military action remains an option should U.S. demands not be met.
These developments have heightened concerns about continued regional instability, boosting demand for precious metals as safe-haven assets during periods of political and geopolitical turmoil, the report added.
The report explained that the rise in silver prices comes as part of a broader trend across the precious metals market, supported by gold’s movements and mounting tensions on multiple international fronts, alongside a cautious investment environment that favors defensive assets and provides indirect support for silver prices.
It also pointed out that expectations of a more accommodative monetary policy in the United States remain a key supportive factor, as markets increasingly anticipate further interest rate cuts by the Federal Reserve this year. Such expectations reduce the opportunity cost of holding non-yielding assets like silver, enhancing their investment appeal.
Investors are now focusing on upcoming U.S. economic data, particularly the ISM Manufacturing Purchasing Managers’ Index due later today. A stronger-than-expected reading could provide temporary support for the U.S. dollar and limit silver’s gains against the currency.
Later in the week, markets are also awaiting the release of the U.S. Non-Farm Payrolls (NFP) report, which is closely watched to assess the future path of U.S. monetary policy.
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