The General Secretary of the Union of Shop Owners for Trading and Crafting Jewelry, Salim Deeb, revealed that the year 2025 witnessed significant transformations in the precious metals markets, especially silver, where the local market experienced notable activity in demand, driven by its record-high prices.
Deeb explained that the price of a silver ounce increased from $29.35 to about $69.10, recording an increase that exceeded 100% since the beginning of the year compared to previous years, according to opinion.
He attributed this to several reasons including the trend of investors and individuals towards precious metals as a savings and investment option, especially with the growing interest in silver due to its lower value compared to gold.
Deeb stressed that the American economic decisions, rising inflation rates, interest rate policies on the dollar, in addition to the escalating economic conflict between the United States and China and the continuing geopolitical tensions are all factors that directly reflected on the dollar exchange rate, pushing both central banks and individual investors towards safe havens, primarily gold.
Deeb pointed out that this strong performance has led investors globally and locally to rush to buy silver, especially in the local market, due to its lower value compared to gold, and the ability to purchase in quantities that suit different financial capabilities, with the aim of benefiting from the historic rises it is experiencing.
He added that the increasing demand for silver is not only limited to the investment side, but also enhanced by its rising use in industrial purposes, which supports expectations of a continuing upward trend in its prices in the coming period.
Deeb confirmed that the path of silver and gold prices in the coming stage will remain contingent on several key factors, primarily the movement of gold prices globally, interest rate policies, and the level of geopolitical stability in the region and the world.
Deeb urged those wishing to buy silver to head to licensed commercial shops, with the necessity of obtaining an officially stamped invoice that includes details of the jewelry, weight, and price per gram, in addition to the jeweler's fees and the total price, in order to protect their rights.
He also emphasized the importance of the products being accompanied by a customs declaration and stamped by the Standards and Measures Institution, to protect consumers from fraud or facing potential financial fines.
