Silver Steps Into the Spotlight as Egyptians Swap Gold for Affordability

Rising Gold Costs Push Tradition Toward a More Budget-Friendly Shine

The glitter of gold may still dazzle, but in Egypt, a quieter contender is stealing the show. With gold prices climbing beyond the dreams of many gift-givers, Egyptians are turning to a more modest metal to mark life’s big moments — silver, specifically in the form of the silver pound.

Once an overlooked relic, the silver pound has become the new go-to gift at engagement parties, baby showers, and graduation ceremonies across the country. Why? Because gold’s skyrocketing price tag has priced out even the most tradition-bound families.

Gold’s Sudden Spike Sends Shockwaves Through Egyptian Households

It wasn’t long ago that gifting a gold pound was a matter of custom — not luxury. Now, it’s nearly out of reach.

A single gold pound — about 8 grams of 21-karat gold — now hovers above EGP 37,000 in local markets. That’s not just a steep climb; it’s a wall.

According to Cairo-based jeweler Mahmoud El-Sayed, “A few years back, buying a gold pound for your daughter’s engagement was expected. Now it’s something only the wealthy can manage. People are shocked when they ask the price.”

And the pain is real for young couples. Parents wanting to maintain cultural customs are finding themselves scrambling for alternatives that won’t break the bank.

One sentence, one truth: gold’s glow has become too expensive.

Silver Pound Offers Symbolism Without the Sting

That’s where the silver pound comes in. It’s not just cheaper — it’s smart.

The metal may not carry the cachet of its golden cousin, but the symbolism still sticks: value, permanence, and goodwill. For many Egyptians, that’s enough.

Silver dealer Ahmed Khalil says business is booming. “We used to sell silver pounds maybe a couple dozen a month. Now it’s in the hundreds. People want something they can afford that still feels traditional,” he explains.

And here’s what makes it work:

• Silver maintains intrinsic value, making it feel more like an ‘investment’ than cash

• It’s widely available and easy to customize

• A silver pound can be had for less than 5% of the cost of a gold pound

Silver, it turns out, delivers meaning without the money stress.

Cultural Shift Fueled by Economic Reality

This trend isn’t just about precious metals — it’s about people adjusting under pressure.

Inflation in Egypt remains one of the highest globally. In May 2025, the annual inflation rate stood near 29%, with food and commodity prices weighing heavily on everyday families. While central bank policies have kept the Egyptian pound somewhat stable against the dollar, local purchasing power has taken a hit.

Table: Comparison Between Gold and Silver Pound in Egypt (July 2025)

The silver pound isn’t just a budget choice — it’s become a cultural pivot.

Jewelers Catch On as Demand Soars

And jewelers? They’re adapting fast.

Shops once decked in rows of 21k bangles and wedding sets are now setting aside room for silver coins, bars, and keepsakes. They’re polishing up their silver inventory — literally and figuratively.

Tamer Hassan, who owns a family-run jewelry store in Giza, says the switch has forced a complete rethink. “Silver was an afterthought. Now we’re getting orders for custom silver pounds engraved with names, birth dates, even quotes from the Quran. It’s become personal and meaningful.”

One jeweler even launched a “Silver for Love” campaign aimed at young couples who want to stick to tradition without emptying their savings.

More Than a Trend — A Reflection of a Tougher Era

This isn’t just about price — it’s about emotion, too.

The silver pound is resonating because it respects tradition without pretending things haven’t changed. There’s pride in gifting it, not shame. And in a country where weddings can still spark fierce debates over dowries, its rise marks a subtle rebellion against over-the-top expectations.

Rania Hegazy, a 27-year-old teacher from Alexandria, explains why she chose silver for her fiancé. “I didn’t want to put pressure on my family. We’re all struggling. Silver felt like a gift that still said, ‘You matter,’ without the weight of gold.”

That kind of thinking — practical, emotional, forward-looking — seems to be catching on.

A Quiet Revolution With a Familiar Shine

At the end of the day, Egyptians haven’t given up on precious metals. They’ve just recalibrated their compass.

Where once gold reigned alone, silver now stands proud — not as a poor substitute, but as a deliberate, confident choice. A sign that tradition can evolve without losing meaning.

So next time you attend an engagement in Cairo or a naming ceremony in Aswan, don’t be surprised if there’s no gold on the table. That little silver coin tucked into a velvet pouch might say everything that needs to be said.