Silver Hits Record High as Egyptian Silver Pound Surges to EGP 496 for the First Time
Silver prices surged significantly on Wednesday, reaching their highest level since September 2011, driven by growing investment demand and improved market sentiment toward precious metals.
Local Market Surge
In Egypt, the price of 800 purity silver rose by EGP 1 to reach EGP 54 per gram. The 999 purity silver was priced at EGP 67, while the 925 purity silver was priced at EGP 62 per gram. Notably, the 925 silver pound jumped to a record EGP 496 — the highest in its history.
Global Rally
Globally, the price of silver rose by nearly $1 per ounce to reach $39.37, its highest level in more than 13 years. Since the start of 2025, silver has gained around 37%, making it one of the best-performing assets of the year, as investors seek protection against economic and geopolitical instability.
Drivers Behind the Rally
Several factors have contributed to silver's ongoing uptrend:
Expectations of a Fed rate pause in the upcoming July meeting.
Mounting concerns over a global economic slowdown are prompting investors to increase exposure to safe-haven assets.
Ongoing supply chain disruptions and growing industrial demand, particularly from the solar energy and tech sectors, continue to support prices amid tightening global supply.
Silver Outperforming Gold
The silver-to-gold ratio — which measures the relative value of the two metals — fell to 87.16, down from 87.32 on Tuesday, indicating silver's relative outperformance.
In Egypt's local market, silver has climbed 32% year-to-date, with 800 purity silver rising by EGP 13 from EGP 41 in January. Globally, the ounce has jumped from $29 to $39.73, delivering stronger returns than most other precious metals over the same period.
Positive Outlook Ahead
Silver's upward trajectory appears likely to continue, supported by several key developments:
U.S. Treasury yields have declined, with the 10-year yield falling to 4.42% and the 2-year yield to 3.87%, increasing the appeal of non-yielding assets like precious metals.
Citibank forecasts silver to reach $40 within the next 6 to 12 months and possibly surpass $46 by Q3 2025, driven by robust industrial demand and tightening supply.
Silver remains undervalued relative to gold: with the current gold-to-silver ratio at 87.3, a reversion to the historical average of 53 could push silver prices to over $63 per ounce.
Significant Upside Potential
Historically adjusted data shows that silver's all-time high in 1980 would equal approximately $197 per ounce in today's dollars, while the 2011 rally peaked near $71. Current levels between $38–$39 are still relatively low — signaling considerable room for further appreciation in the near term.
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