Silver Hits 14-Year High, Soars 40% Globally, 36% In Egypt: Official

(MENAFN- Daily News Egypt) Silver continued its record-breaking rally this week, with December futures contracts climbing to $42.29 per ounce - the highest level in 14 years - marking a nearly 40% increase since the start of 2025, according to Ehab Wassef, Head of the Gold and Precious Metals Division at the Federation of Egyptian Industries.

This surge reinforces silver's position as a key safe-haven asset during turbulent market conditions. In Egypt, prices have advanced by about 36%, rising from EGP 48 at the beginning of the year to over EGP 65 today.

Wassef explained that the rally comes as gold also sets new records, making silver - often called the“poor man's gold” - a strong candidate to catch up with the yellow metal and potentially retest historic highs. The all-time record for silver was $50.36 per ounce, reached in January 1980.

Several factors are driving the metal's upward momentum. Chief among them are growing expectations of US interest rate cuts, starting with the Federal Reserve's mid-September meeting. Following weak US jobs data, markets are now pricing in three rate cuts this year.

“The closer we get to the US monetary easing cycle, the more attractive non-yielding assets like gold and silver become,” Wassef said.

He added that volatility in global bond markets is also supporting demand, as inflation concerns and rising government debt sales have pushed bond yields higher, encouraging investors to seek safer hedges. Uncertainty surrounding the Federal Reserve's independence has further fuelled anxiety, strengthening the case for precious metals.

Wassef also noted that September has historically been the toughest month for US stock markets, followed by October, creating a tense climate for equities, finance, and currencies. Such conditions, he said, enhance silver's standing as a safe-haven asset.

“Silver is no longer just a metal that follows gold, but has become an influential investment tool in its own right,” he concluded.“With ongoing geopolitical tensions and global financial risks, the chances of it surpassing the $50 level are not far off in the near term.”

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