On Friday, October 2, 2026, the Egyptian silver market witnessed new developments, with prices experiencing substantial changes. The price of 999-carat silver was recorded at 98.75 EGP for buying and 101.75 EGP for selling. In contrast, 925-carat silver was priced at 91.44 EGP for buying and 94.21 EGP for selling. Furthermore, 800-carat silver was available at 79.08 EGP for buying and 81.48 EGP for selling.
The kilogram price of 999-carat silver reached 101,750 EGP, while an ounce of silver cost 3,165 EGP. Additionally, the silver pound was priced at 814 EGP, and the global silver screen recorded 60.58 USD. These prices reflect the ongoing fluctuations in the silver market, influenced by various local and international factors.
According to Lotti Menib, Deputy Head of the General Jewelry and Gold Division at the Egyptian Federation of Chambers of Commerce, the recent decline in silver prices can be attributed to a correction phase following significant increases in the previous year. He noted that silver prices have been volatile, hovering around 61 USD per ounce after briefly exceeding 100 USD in January 2026.
Menib identified several factors contributing to the decline in silver prices, including the rise in US bond yields and ongoing inflation concerns, which have led to expectations of sustained high interest rates. He emphasized that increased yields raise the opportunity cost of holding non-yielding assets like silver and gold, while a strong US dollar has also exerted downward pressure on precious metal prices.
The global silver market has experienced significant movements, with prices dropping by 4.5% in a single session on September 28, amid a rising dollar and increased US yields. Menib highlighted the distinction between silver and gold, noting that silver has substantial industrial applications, particularly in electronics and solar energy. He cited estimates suggesting a 2% decline in industrial silver usage in 2026 due to reduced consumption in the solar panel industry.
Despite current challenges, Menib emphasized that fundamental factors still support higher silver prices, including an anticipated deficit in global supply and growing interest in physical silver investment. He described the current situation as a correction phase rather than a collapse in market fundamentals. Looking ahead, Menib expects silver prices to be influenced by US monetary policy, oil prices, and global industrial demand.
In the Egyptian market, Menib noted that silver investment is still developing and lacks the maturity and liquidity of the gold market. He stressed that for silver to become a more viable investment option, it will require time to establish a robust market infrastructure, including clearer pricing mechanisms and more efficient trading channels.
Key points
- The price of 999-carat silver in Egypt reached 98.75 EGP for buying and 101.75 EGP for selling on October 2, 2026.
- Global silver prices have been influenced by US monetary policy, with expectations of sustained high interest rates impacting market trends.
- The Egyptian silver market is still developing and lacks the maturity and liquidity of the gold market, requiring time to establish a robust infrastructure.
