Silver bullion booms in Egypt amid global hype

With global silver prices soaring by 50 percent in just over a year and international marketing campaigns fueling newfound investor interest, silver bullion has emerged from a niche saving strategy into a mainstream financial asset.

Long focused on gold, Egyptians are now turning to silver bars—driven by economic uncertainty, forecasts of rising industrial demand, and the allure of quick returns. In contrast to traditional silver jewelry, which offers little resale value, bullion is reshaping perceptions of wealth preservation and speculation.

Silver prices have surged by 50 percent between January 2024 and May 2025, Wasfi Wasef, adviser to the Metals and Mining Division at the Federation of Egyptian Industries, told Ahram Online.

Mohamed Saeed, a precious metals trader on El Sagha Street, explained that international marketing campaigns have played a key role in stoking interest. Following a global slowdown in silver-dependent industries due to geopolitical tensions, marketing efforts reframed silver as a lucrative investment.

Saeed noted that silver fell from $50 per ounce in 2010 to just $12 during the COVID-19 pandemic. It has since rebounded and currently trades at around $33 per ounce on global markets.