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 Silver prices in the Egyptian market experienced a robust rally during the week of August 15 to 22, 2026. The price of 999-purity silver—the most widely traded in Egypt—surged by 11.52% (an increase of EGP 11.87), climbing from EGP 103.02 to EGP 114.89 per gram.

According to a market analysis report by the "Safe Haven Center," this sharp domestic increase was primarily driven by global geopolitical escalations, specifically the freezing of diplomatic negotiations between the United States and Iran. Additionally, a decline in U.S. Treasury yields significantly boosted the appeal of non-yielding safe-haven assets worldwide.

The report highlighted that the pricing gap between the local market and global fair value shifted dramatically during the week, moving from a discount of EGP 5.56 (-4.98%) to a premium of EGP 1.83 (+1.62%), reflecting strong domestic confidence in the metal's long-term fundamentals.

Local Silver Prices Snapshot (Week Ending August 22, 2026)

The table below outlines the latest recorded silver prices across various purities in the Egyptian market:

Purity / ItemRecorded Price (EGP)Global Equivalent

999 Silver (per gram)~EGP 114.75 (Peaked at 114.89)N/A

925 Sterling Silver (per gram)EGP 106.25N/A

900 Silver (per gram)EGP 103.50N/A

800 Silver (per gram)EGP 92.00N/A

Silver Pound (Coin)EGP 850.00N/A

Global Silver Ounce (Spot)N/A~$69.00

Global Drivers and Domestic Macro Context

Global Spot Rally: Silver rapidly regained its momentum on the global stage, jumping from $63.37 to roughly $69.04 per ounce by August 21. This reflects a massive 7.7% gain in just three days, contributing to a 15% monthly and a 77% year-on-year surge.

Declining U.S. Bond Yields: The U.S. Treasury's announcement to double long-term bond buybacks in the coming months pushed yields lower, reducing the opportunity cost of holding precious metals and fueling speculative and investment demand.

Stable FX Market: The Egyptian Pound (EGP) remained relatively stable against the US Dollar during the week, fluctuating tightly between EGP 49.81 and EGP 50.93. This indicates that the local price jump was a direct reflection of global commodity movements rather than domestic currency depreciation.

CBE Policy & Inflation Hedging: The Central Bank of Egypt (CBE) held its overnight deposit rate steady at 19% during its August 20 meeting. However, with annual urban inflation accelerating to 14.9% in July, local investors continue to flock to silver as an accessible store of value against rising consumer prices.