Egypt Silver Market Surges 3.9% in One Week as Global Prices Hit $81 per Ounce

Saturday 9 May 2026 15:07

Silver prices in the Egyptian market recorded a strong rally during the first week of May, fueled by a sharp rise in global benchmarks and shifting geopolitical expectations. According to a technical report by the Safe Haven Center, the price of 999-karat silver climbed from EGP 128 to EGP 132.99 per gram, representing a nearly 4% increase between May 2 and May 9.

The domestic surge aligns with the global silver ounce reaching $81, driven by optimism surrounding U.S.-Iran negotiations. These geopolitical developments have cooled global inflation fears and heightened expectations for a future cut in U.S. interest rates. Despite the sharp global rise, the relative stability of the EGP/USD exchange rate—fluctuating near the EGP 53 mark—has helped moderate the cost of imports, providing some stability to local prices amidst high international volatility.