Silver has emerged as the top-performing commodity in 2025, with prices jumping nearly 56% this year. Internationally, silver touched around $44 per ounce, while in India, it hit Rs 134,089 per kilogram — the highest in a decade. Gold also rose but at a slower pace, climbing about 49% to Rs 113,129 per 10 grams.
Experts say silver’s rally is driven by strong industrial demand and shrinking global supplies. Industries like renewable energy, electric vehicles, and electronics increasingly use silver, boosting consumption. In 2024, global industrial demand reached a record 680.5 million ounces, creating a supply deficit. China’s widespread adoption of N-type solar cells, which use more silver, has further fueled demand.
Analysts note that the gold-to-silver ratio at 84 indicates silver is undervalued, making it attractive for investors. While prices approach $50 per ounce, short-term dips could offer buying opportunities. Experts predict silver may rise to $52–$58 internationally and Rs 150,000/kg in India.
Meanwhile, India’s DGFT has restricted imports of plain silver jewellery to protect domestic makers. With soaring global demand, tight supplies, and supportive policy steps, silver is likely to stay in focus as both an industrial metal and a wealth hedge.
