Silver & Gold Price Movements in the First Half of 2026

The first half of 2026 marked one of the most volatile periods in precious metals history. Gold recorded more than 12 all-time highs, reaching a record $5,595 per ounce in January before correcting sharply to close near $4,007 by the end of June. Market movements were driven by the shift in US monetary policy, the inflation shock resulting from the US-Iran conflict, and developments surrounding the US-China trade truce. Silver also experienced exceptional volatility, reaching an all-time high of $121.64 per ounce before falling to $58.51 following higher margin requirements, profit-taking, and a repricing of interest rate expectations. In Egypt, 21K gold closed near EGP 5,670 per gram, while local silver stabilized around EGP 101 per gram. From a technical perspective, both gold and silver continue to maintain a constructive long-term outlook despite elevated market volatility.