Silver has seen a remarkable surge in market capitalisation, now ranking among the most valuable assets globally. With a market capitalisation of $4.220 trillion, it has surpassed tech giants like Apple Inc and Alphabet, closing in on NVIDIA Corporation for the second position, just 8.1% behind. Gold still leads as the most valued asset, with a market capitalisation of $31.598 trillion as of December 26.
The rise in silver’s value coincides with a historic rally in prices, with spot silver on Comex surpassing $75 per ounce and reaching a new record high. In India, silver futures on the Multi Commodity Exchange of India hit an all-time high of Rs 2,33,115 per kilogram. Meanwhile, NVIDIA’s stock price was trading at $188.61, showing a slight decline of 0.32% over the previous 24 hours.
Experts anticipate that silver may climb further in global rankings. Surendra Mehta, national secretary of the India Bullion and Jewellers Association (IBJA), suggests that if the current momentum persists, silver could overtake NVIDIA to become the world’s second-most valuable asset. Mehta also highlights significant price disparities in global silver markets, such as the widened price gap between silver on Comex and the Shanghai exchange.
The rally in silver prices is evident in Indian markets, with silver prices on MCX soaring over 153% in the past year, rising from Rs 91,600 on December 26, 2024, to Rs 2,31,879 on December 26, 2025. Gold has also shown strong returns but lags behind silver, with prices increasing by nearly 80% during the same period, from Rs 77,460 to Rs 1,39,233 per 10 grams of 24-carat gold.
