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Egypt silver prices fall after rate hold
Silver prices in Egypt declined from September 23 to 24, 2026, due to a global drop in ounce prices and pressure from U.S. monetary policy following the Federal Reserve's interest rate hike. The price of 999 jewelry grade silver reached approximately 104.75 Egyptian pounds, a decrease of 1.39 pounds (about 1.17%). Meanwhile, the price of an ounce dropped from $106.45 to $104.9, a decline of $1.55 (1.46%). The decline was driven by the rise in U.S. interest rates, which reduces the appeal of precious metals, coupled with a gap between the local and fair prices, reflecting local selling pressure and the link between the global decline and the Egyptian market.
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