Egyptian Silver Prices Plummet Alongside Global Decline

Silver prices in Egypt and globally declined in September due to interest rate pressures. According to Marsad Al Dahab, the price of 999-fineness silver dropped by approximately EGP 5 per gram during the month, from EGP 107 at the beginning to EGP 102 at the end. This represents a loss of around 4.7% in Egypt and 10.2% globally.

The stronger US dollar and rising US Treasury yields contributed to the decline, as did tighter monetary policy. The appreciation of the dollar against the Egyptian pound also softened the impact on domestic prices. As a result, the price of silver remained relatively stable in Egypt compared to international levels.

Despite the nine-month losses, the current market dynamics are influenced by various factors, including industrial activity and changes in silver consumption. According to the Silver Institute's annual survey, there is a forecasted global market deficit of 46.3 million ounces in 2026. However, an annual deficit does not guarantee higher prices every month.