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Silver Prices Rise 2.3% in Egyptian Market

Taarek Refaat Silver prices in Egypt saw a significant increase by 2.3% during last week's trading, coinciding with a 3% increase per ounce on the global stock exchange, amid geopolitical and economic uncertainty, according to a report issued by the Safe Haven Hub. The report added that the price of a gram of 800 silver rose by one Egyptian pound during last week's trading, opening at EGP 44 and closing at EGP 45. The price of a gram of 999 fine silver reached approximately EGP 56, while the price of a gram of 925 sterling silver reached approximately EGP 52, and the price of a pound reached EGP 416. International Silver Prices: The price of an ounce on the global stock exchange saw a slight decrease of one dollar, opening the week at $33 and closing at $34. Despite silver hitting a five-month high, it fell to $34 at the close of trading on Friday, after touching $34.58 before retreating due to profit-taking. Silver remains the only precious metal trading below its all-time high of 1980, raising speculation about price manipulation to keep it low. This is despite several factors supporting silver's rise, such as rising inflation, increased physical demand, a supply shortage, and the massive rise in gold prices. In light of these facts, a group of investors launched an online campaign on social media platforms, particularly X, under the name "Silver Squeeze 2.0," calling for a mass purchase of silver on March 31st. The campaign aims to challenge the paper market, which some describe as "manipulated." This campaign is similar to the actions led by Reddit investors in 2021, which led to significant increases in silver prices. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers