Egypt Silver Prices Drop 3.5% in a Week as Global Market Weighs US Interest Rate Pressures
A technical report released by the Safe Haven Center revealed that silver prices in Egypt recorded a sharp decline during last week’s trading, spanning July 4 to July 11, 2026. The price of 999-karat (pure) silver fell by 3.57%, heavily impacted by ongoing uncertainty surrounding US monetary policy and growing expectations of interest rate hikes, despite escalating geopolitical tensions in the Middle East.
According to the report, 999-karat silver dropped from EGP 104.9 per gram at the beginning of the week to EGP 101.15 by the end, losing around EGP 3.75. Meanwhile, 900-karat silver was recorded at EGP 91, and 800-karat stood at EGP 81. The price of the silver pound reached EGP 748, while the global ounce stabilized near $60.
The report highlighted that silver’s performance during the week clearly reflected a tug-of-war between two main catalysts: fears of sustained high interest rates in the United States—which place downward pressure on non-yielding assets—versus the demand for safe havens due to geopolitical risks. Furthermore, the report noted that the Egyptian market is showing signs of greater maturity in handling these fluctuations, with a noticeable improvement in local pricing efficiency.
Weekly Silver Performance Breakdown
The report tracked the steady daily decline of silver throughout the week. Pure 999-karat silver opened the period at EGP 104.9 per gram, before slipping to EGP 103.96 on July 6. The downward trend persisted, reaching EGP 103.02 on July 7, dropping further to EGP 102.09 on July 8, and closing the week's trading at EGP 101.15 per gram on July 11.
This total loss of EGP 3.75 over the seven-day period signals continuous selling pressure driven by a tightening US monetary policy and a strong US dollar, which offset the traditional support precious metals receive from geopolitical instability.
Globally, the international ounce followed a similar trajectory, shedding roughly $2.1 (or 3.2%) as it slid from $62.02 at the start of the week to around $59.92 by the weekend. This global decline directly impacted the domestic market, although the appreciation of the US dollar against the Egyptian pound managed to cap a portion of these losses locally.
Enhanced Pricing Efficiency in Egypt
The Safe Haven Center noted that the domestic market witnessed a relative enhancement in pricing efficiency. The gap between the local price and the fair price calculated against the global ounce narrowed from EGP 8.84 (9.48%) on July 8 to EGP 6.83 (7.24%) by July 9.
The report emphasized that the shrinking price gap shows the local market is successfully adapting to global headwinds and reducing the inflated premiums that usually accompany volatile periods. It also signals a stable domestic landscape despite ongoing funding and storage costs.
Additionally, the Egyptian market is moving at a calmer pace compared to international exchanges. This is largely attributed to cooling local demand as the market enters a seasonal summer slowdown, which has visibly reduced overall trading volumes and the frequency of daily price adjustments.