{"id":686138,"date":"2026-02-02T00:00:00","date_gmt":"2026-02-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/02\/precious-metals-slump-amidst-intense-sell-off\/"},"modified":"2026-02-02T00:00:00","modified_gmt":"2026-02-02T00:00:00","slug":"precious-metals-slump-amidst-intense-sell-off","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/02\/precious-metals-slump-amidst-intense-sell-off\/","title":{"rendered":"Precious metals slump amidst intense sell-off"},"content":{"rendered":"

Good afternoon, friends.<\/strong> It\u2019s a quiet Monday afternoon both at home and abroad, save for precious metals as they enter a downward trajectory following a series of historic highs. Also in today\u2019s issue: we take a look at what a Roblox ban means for Egypt\u2019s youth, how Maadi\u2019s residents are taking matters into their own hands, and recap the 2026 Grammys. <\/p>\n

\n

THE BIG STORY ABROAD-<\/p>\n

\ud83c\udf10 It\u2019s a relatively calm afternoon in the business press, with not many stories making the rounds except for the precious metals crash.<\/strong> Gold and silver prices plunged, sending shockwaves through global stock markets. Gold fell 8% to USD 4.47k per ounce early Monday \u2014 down from a record high of USD 5.6k per ounce last week \u2014 and is trading at near USD 4.8k per ounce at the time of publication. Silver also saw a drop, following an already-steep 30% sink over the weekend. The impact of the sell-off was palpable, with the Dow Jones and the S&P 500 down 0.4% and Nasdaq down 0.9% at the time of publication.<\/p>\n

^^ Read more on Bloomberg<\/a>, CNBC<\/a>, and Guardian<\/a>.<\/p>\n

CLOSER TO HOME- <\/strong>The Rafah border between Egypt and the Gaza strip was reopened on Monday to allow movement between both countries. 50 patients, each accompanied by a maximum of two relatives, will be allowed to exit the strip daily, according to Israeli reports cited by the BBC. An estimated 20k wounded Palestinians remain waiting to cross. A daily quota of 50 Palestinians who had left during the war will also be allowed to return. <\/p>\n

^^ Read more on the Guardian<\/a>, Reuters<\/a>, and the BBC<\/a>.<\/p>\n

\n
\n
\n
\n

Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n