Egypt silver prices fall as Fed decision nears
Silver prices in the Egyptian market have declined significantly over the past couple of days. The 999 purity silver has dropped by approximately 1.87 Egyptian pounds, reaching 121.13 pounds, representing a decline of 1.52%. This reflects how the white metal is affected by fluctuations in the global economy and the decisions of the U.S. Federal Reserve, amid anticipation of interest rate hikes that have strengthened the dollar and bond yields. Despite this decline, the Egyptian market shows relative resilience, thanks to a slight increase in the US dollar exchange rate, leading to a varied pace of decline compared to the global market.
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